SPAC Management Teams Move to Reassure Jittery Investors

We're sure you've noticed a slew of 8-Ks recently where SPAC sponsors have attempted to reassure investors that the cash trusts are safe. In certain cases, SPACs have moved monies from foreign to domestic trust accounts.

According to the Wall Street Journal:

"In most cases, after receiving calls from concerned investors -- mainly hedge funds -- the SPACs decided to either change their asset mix or send out a blanket statement of reassurance. During the past two months, more than two dozen SPACs have issued news releases reassuring their investors that their trust accounts are safely invested in government-backed bonds or telling them that they have decided to switch their asset mix completely into the safety of U.S. Treasurys."

Click here for the Wall Street Journal article