Blank-check mergers have faced a myriad of challenges lately, including poor returns, high redemptions, and rising terminations. In this tough environment, 2022 SPAC mergers have taken longer to complete than prior years, averaging about 7 months from deal announcement to completion. That is 34% longer than the class of 2021 (5.2 months) and 55% longer than 2020 de-SPACs (4.5 months).
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