{"id":68491,"date":"2023-10-04T01:39:25","date_gmt":"2023-10-04T05:39:25","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/michael-kleins-spac-to-cease-operations-three-years-after-going-public\/"},"modified":"2023-10-04T01:39:27","modified_gmt":"2023-10-04T05:39:27","slug":"michael-kleins-spac-to-cease-operations-three-years-after-going-public","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=68491","title":{"rendered":"Michael Klein’s SPAC to cease operations three years after going public"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
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(Reuters) – Veteran dealmaker Michael Klein-led blank-check company Churchill Capital Corp V said on Monday it would cease operations nearly three years after it went public. <\/p>\n

Klein, a prolific sponsor of special purpose acquisition companies (SPAC), had launched several such vehicles during the pandemic-era boom. One of his SPACs took electric-vehicle company Lucid Group (NASDAQ:) public in one of the biggest deals ever.<\/p>\n

But heightened regulatory scrutiny and a poor market for new listings last year dimmed the appeal of SPACs. Many startups ended their deals to go public via a SPAC, and popular blank-check investors such as Chamath Palihapitiya also felt the pinch.<\/p>\n

SPACs, which offer an alternative to a traditional IPO, have no business operations other than finding a private company to take public. <\/p>\n

Churchill Capital, which had raised $500 million in its initial public offering in December 2020, said it would return the capital to shareholders. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. (Reuters) – Veteran dealmaker Michael Klein-led blank-check company Churchill Capital Corp V said on Monday it would cease operations nearly three years after it went public. Klein, a prolific sponsor of special purpose acquisition companies (SPAC), had launched several such vehicles during the pandemic-era boom. One of his SPACs took electric-vehicle company Lucid […]<\/p>\n","protected":false},"author":1,"featured_media":3590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-68491","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nMichael Klein's SPAC to cease operations three years after going public | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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