The SPAC Bubble Is Burst. It May Be Time to Invest.

Interest in special-purpose acquisition companies has faded fast. As old investors mourn their losses, though, it may be time for new ones to raid the spoils.

Only five SPACs priced their shares for a public-market debut in August, followed by a single one thus far in September, FactSet figures show. This compares with a peak of 141 in February.

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