Another Newly Merged SPAC Is Getting Mauled. Here’s Why Hedge Fund Investors Aren’t Worried.
Cano Health, backed by Suvretta, Third Point, and others, has been on the decline since merging with Jaws Acquisition in early June.
The shares of a profitable health-care company that merged with a blank-check company earlier this month are already down by double digits just since the deal was completed.
This may seem like a big blow to the hedge funds and other investors that are sizable shareholders.