Big Trouble in the SPAC World
Companies that recently merged with blank-check firms are finding their shares in the red, while a surging number of deals are falling apart altogether.
Talk about a rotten deal.
It’s been roughly a week since Pear Therapeutics began trading after its merger with the blank-check company Thimble Point Acquisition Corp., and in that time, Pear’s stock has plunged $3.40 a share, or 34 percent.
Two of the company’s unhappy investors are prominent hedge funds Perceptive Advisors and Sarissa Capital Management.