The Deal Drinks With The Deal: Chardan's Barudin Calls SPAC Market Normal
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Mar 27, 2025 Guy Barudin, managing director at Chardan Capital Markets, dives into the intricate world of SPACs. He discusses the dual role of his firm as investor and advisor, shedding light on their innovative strategies to secure capital for growing companies. The conversation highlights the dramatic rise and subsequent decline of SPACs, influenced by market fluctuations and regulatory changes. Barudin emphasizes the essential traits of effective SPAC sponsors and explores how SPACs remain an appealing option for companies navigating the complexities of going public.
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Chardan's SPAC Activity
- Chardan Capital Markets has participated in 43 SPAC IPOs as an underwriter from 2015 to 2025.
- They've also sponsored a dozen SPACs, closed eight deals, abandoned two, and liquidated two.
Chardan's Unique Approach
- Chardan's experience in the SPAC market is unique because they act as underwriters, advisors, investors, and sponsors.
- Their long-standing presence since 2004 provides them with valuable insights.
SPAC Explosion
- The SPAC IPO explosion in 2020-2021 was fueled by various factors.
- These include increased retail investor interest, low interest rates, and successful SPAC deals.