SPAC boom and bust (2020-2022)
Hundreds of companies went public by merging with blank-check firms during a SPAC frenzy. Many were early-stage businesses with thin revenue that used SPACs to reach markets fast.
A wave of deals closed at high valuations through 2021.
Most SPAC stocks fell well below their $10 starting price, and regulators tightened the rules around the structure.
Securitize chose the same SPAC route. Its low redemption rate stands out against a structure that burned many earlier investors.
