{"id":250854,"date":"2021-05-15T23:04:00","date_gmt":"2021-05-15T20:04:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/opinion-the-spacsplosion-has-reached-a-reckoning\/"},"modified":"2021-05-15T23:04:00","modified_gmt":"2021-05-15T20:04:00","slug":"opinion-the-spacsplosion-has-reached-a-reckoning","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/opinion-the-spacsplosion-has-reached-a-reckoning\/","title":{"rendered":"#\n  Opinion: The SPACsplosion has reached a reckoning"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2bfc052b084\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2bfc052b084\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/opinion-the-spacsplosion-has-reached-a-reckoning\/#SEC_investigations_and_pronouncements_class-action_lawsuits_and_plunging_stock_prices_have_frozen_the_SPAC_bubble_in_place_but_the_companies_arent_going_anywhere_just_yet\" >SEC investigations and pronouncements, class-action lawsuits and plunging stock prices have frozen the SPAC bubble in place, but the companies aren\u2019t going anywhere just yet<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/opinion-the-spacsplosion-has-reached-a-reckoning\/#Therese_Poletti\" >Therese Poletti<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Opinion: The SPACsplosion has reached a reckoning<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"SEC_investigations_and_pronouncements_class-action_lawsuits_and_plunging_stock_prices_have_frozen_the_SPAC_bubble_in_place_but_the_companies_arent_going_anywhere_just_yet\"><\/span>\n  SEC investigations and pronouncements, class-action lawsuits and plunging stock prices have frozen the SPAC bubble in place, but the companies aren\u2019t going anywhere just yet<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\">\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000257895\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       The proposed merger between blank-check company Churchill Capital IV and Lucid Motors is a pretty typical example of the pandemic SPACsplosion \u2014 it involves electric cars that have not yet been built, eye-popping forecasts and frothy trading.<\/p>\n<p> And while this deal is not yet even completed, Wall Street has already gotten its share at a discount and retail investors have been hit with big losses.<\/p>\n<div class=\"paywall\">\n       Regulators and investors are finally figuring out the dangers of special-purpose acquisition companies, also known as SPACs, or blank-check companies. Lucid, a Tesla Inc.<br \/>\n        TSLA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203558040\/composite\" class=\"positive\">+3.16%<\/bg-quote><br \/>\n       wannabe, and Churchill Capital IV<br \/>\n        CCIV,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/221104327\/composite\" class=\"positive\">+4.00%<\/bg-quote><br \/>\n       have both been hit with several class-action lawsuits that allege Lucid Chief Executive Peter Rawlinson made false and misleading statements about vehicle production and revenue potential, an area the Securities and Exchange Commission is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/news\/exclusive-u-watchdog-weighs-guidance-191501141.html\" class=\"icon none\">reportedly exploring<\/a> as well. <\/p>\n<p>Almost a month after <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> reports that Lucid was in talks to go public through a merger with a blank check company, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.forbes.com\/sites\/alanohnsman\/2021\/02\/04\/elon-musks-ex-chief-engineer-creates-a-new-car-and-says-it-beats-tesla\/?sh=18023e475b2e\" class=\"icon none\">Rawlinson told Forbes<\/a> that he wanted to build 6,000 new Lucid Air vehicles in a factory in Arizona, potentially generating $900 million in revenue, and ramping up to 25,000 vehicles by 2022. Rawlinson touted similar projections in other interviews read by retail investors who jumped on the chance to get the next buzzy EV startup, and by Feb. 18, according to the lawsuit, shares of Churchill had climbed to an all-time high of $58. <\/p>\n<p>When the merger was announced in February, investors learned in a presentation document that Lucid now plans on 577 vehicles in 2021 and 20,157 vehicles in 2022. <\/p>\n<p>But the pros on Wall Street had already stepped in. The actual merger also included a private investment in a public equity, or PIPE, deal that gave institutional investors shares at a much lower valuation than they were going for in the public markets, where individual investors were bidding up the price after <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> reports of a merger. Between the new vehicle projections, and the details of the PIPE, the stock plunged, costing speculators, three of whom became the subjects of a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/robinhood-three-friends-and-the-fortune-that-got-away-11619099755\" class=\"icon none\">Wall Street Journal feature on individual investors losing during the current stock-market mania<\/a>. <\/p>\n<p>With its allegations of false statements and poor disclosures, Churchill\/Lucid is far from alone. Shortseller Hindenburg Research has detailed potential false claims from hydrogen-fueled trucking company Nikola Corp.<br \/>\n        NKLA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208704275\/composite\" class=\"positive\">+2.02%<\/bg-quote><br \/>\n       and electronic truck company Lordstown Motors<br \/>\n        RIDE,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/211334938\/composite\" class=\"positive\">+5.01%<\/bg-quote><span>,<\/span><br \/>\n       leading to Securities and Exchange Commission investigations and class-action lawsuits involving both. Blank-check company Atlas Crest Investment Corp. ACIC \u2014 now in the process of buying flying-taxi company Archer Aviation \u2014 disclosed in an SEC filing that Archer is the target of a serious trade secret theft lawsuit filed by Wisk, a joint venture of Alphabet Inc. co-founder Larry Page\u2019s Kitty Hawk flying taxi company and Boeing Co. BA.<\/p>\n<p><strong>Read more: The rise of EV SPACs as the next version of the dot-com bubble<\/strong><\/p>\n<p>Regulators and lawmakers are jumping in as well. Some of the biggest SPACs \u2014 including DraftKings Inc.<br \/>\n        DKNG,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/213120645\/composite\" class=\"positive\">+9.51%<\/bg-quote><br \/>\n       and Virgin Galactic Holdings Inc.<br \/>\n        SPCE,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208333884\/composite\" class=\"positive\">+4.39%<\/bg-quote><br \/>\n      \u2014 have been forced to restate their previously filed financial information in response to new SEC guidance. The SEC spotlight, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/news\/public-statement\/accounting-reporting-warrants-issued-spacs\" class=\"icon none\">which also includes a focus on the accounting methods for the warrants issued to early investors<\/a>, seems to have been the trigger that finally froze the SPAC boom. Insider deals as part of SPACs are now the focus of a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.kennedy.senate.gov\/public\/_cache\/files\/8\/c\/8c5a665c-b7e8-48ce-a2bf-6cd1dbc504c3\/A1E8BB9BDA5EB64CB106B92056D91B57.the-sponsor-promote-and-compensation-act-spac-act-.pdf\" class=\"icon none\">new SPAC ACT, a bill introduced late last month by U.S. Sen. John Kennedy<\/a> (R., La.) that seeks to get the SEC to require more disclosures to give investors more transparency.<\/p>\n<p>The result: A reckoning for the SPACsplosion. In April, the number of SPACs that filed to go public, or SPAC mergers that became public companies, skidded to a halt. Only 13 deals went public in April, raising $3.2 billion, according to data provider Dealogic, down from 108 SPACs in March, 97 in February, and 90 in January. In the first four months of 2021 combined, SPACs raised $323 billion in IPOs, nearly on par with full year 2020, when companies raised $336 billion, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.spacresearch.com\/?gclid=CjwKCAjwhMmEBhBwEiwAXwFoEWdOC7Rfs2c1QozD-1X7FYX4cMvejBXx-bvaO42xJsw1i8BAbSTClBoCgSMQAvD_BwE\" class=\"icon none\">SPAC Research<\/a>, but the flood has now slowed to a trickle.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        renoImageFormat-\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:70.546875%;\" data-mobile-ratio=\"70.546875%\" data-layout-ratio=\"70.546875%\" data-subtype=\"\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-338864?width=140&amp;size=1.41749723145072 140w,\nhttps:\/\/images.mktw.net\/im-338864?width=540&amp;size=1.41749723145072 540w,\nhttps:\/\/images.mktw.net\/im-338864?width=620&amp;size=1.41749723145072 620w,\nhttps:\/\/images.mktw.net\/im-338864?width=700&amp;size=1.41749723145072 700w,\nhttps:\/\/images.mktw.net\/im-338864?width=860&amp;size=1.41749723145072 860w,\nhttps:\/\/images.mktw.net\/im-338864?width=1260&amp;size=1.41749723145072 1260w\" sizes=\"(max-width: 140px) 100px,\n(max-width: 540px) 500px,\n(max-width: 620px) 580px,\n(max-width: 700px) 660px,\n(max-width: 860px) 820px,\n1260px\" src=\"https:\/\/images.mktw.net\/im-338864?width=620&amp;size=1.41749723145072\" data-enlarge=\"https:\/\/images.mktw.net\/im-338864?width=1260&amp;size=1.41749723145072\" alt=\"\" title=\"\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\"><\/figcaption><\/figure>\n<\/div>\n<p>\u201cI think it slowed down to a degree because of the SEC statement on warrants,\u201d said David Slovick, a partner at Barnes &amp; Thornburg in New York, who represents companies involved in\u00a0SEC and CFTC enforcement\u00a0investigations\u00a0and related regulatory counseling. \u201cThere is\u00a0also\u00a0a backlog at\u00a0the SEC\u2019s Division of Corporation Finance, which is responsible for\u00a0evaluating whether\u00a0SPAC\u2019s are accurately disclosing their financial information to prospective investors.\u201d<\/p>\n<p>The SEC\u2019s recent reminders on its website have mostly focused on a few core issues with SPACs, with the underlying <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">theme<\/a> that some companies are playing fast and loose, apparently not seeing the de-SPAC process as a traditional IPO, especially when it comes to disclosures and forward-looking statements. <\/p>\n<p>\u201cSome \u2014 but far from all \u2014 practitioners and commentators have claimed that an advantage of SPACs over traditional IPOs is lesser securities law liability exposure for targets and the public company itself,\u201d said John Coates, acting director, division of corporation finance, at the SEC, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/news\/public-statement\/spacs-ipos-liability-risk-under-securities-laws\" class=\"icon none\">in an April public statement.<\/a> He went on to say \u201cAny simple claim about reduced liability exposure for SPAC participants is overstated at best, and potentially seriously misleading at worst.\u201d<\/p>\n<p><strong>Read more: How the SEC is telling investors to ignore a billionaire\u2019s legal advice <\/strong><\/p>\n<p>Besides SEC scrutiny, these companies now face that rush of class-action lawsuits. Currently, according to Stephen Blake, a litigation partner at Simpson Thacher &amp; Bartlett in Palo Alto, over 40 lawsuits have been filed against SPACs in both federal and state courts of California, Delaware and New York.\u00a0<\/p>\n<p>\u201cThey are not frivolous cases, they are legitimate, substantive cases,\u201d said Michael Klausner, a professor of law at Stanford Law School. \u201cWill they have a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> effect on the entire market? They could, but no time soon. It could be that a ruling in one of these cases, or more of these cases, could alter the way SPACs disclose, what they disclose and how they disclose it, but that will require a judicial opinion, which is months away.\u201d<\/p>\n<p>Klausner added that the SEC staff also could be looking much more closely at the projections SPACs or their acquisition targets are making, and say they have to justify the projections, which would constrain them one by one. \u201cWe will see whether they will do that or not,\u201d he said.<\/p>\n<p>The pattern of a recently created SPAC ETF<br \/>\n        SPAK,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/221459545\/composite\" class=\"positive\">+3.85%<\/bg-quote><br \/>\n       shows how these stocks have lost their darling status on Wall Street. After peaking in February, the SPAC ETF, created last October and<a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/www.spcxetf.com\/wp-content\/uploads\/2021\/04\/SPCX-fact-sheet-3_31_21.pdf\" class=\"icon none\"> made up of 83 holdings <\/a>\u2014 ranging from de-SPACed celebrities like Virgin Galatic Holdings<br \/>\n        SPCE,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208333884\/composite\" class=\"positive\">+4.39%<\/bg-quote><br \/>\n       and DraftKings<br \/>\n        DKNG,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/213120645\/composite\" class=\"positive\">+9.51%<\/bg-quote><br \/>\n       to premerger status blank check companies like Churchill \u2014 has plunged 30% from its high. SPACs have also become a target of other shortsellers beyond Hindenburg Research. <\/p>\n<p>When it comes to outlandish disclosures, with no fears of retribution, some SPACs may be taking a page from Chamath Palihapitiya, founder and CEO of Social Capital and recently called the \u201cKing of SPACs.\u201dPalihapitiya <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=E6lx5DP9r10\" class=\"icon none\">said in a YouTube video <\/a>that in a traditional IPO, you cannot give forecasts, but because a SPAC is a merger, \u201cyou\u2019re all of a sudden allowed to talk about the future.\u201d <\/p>\n<p>One of Palihapitiya\u2019s SPACs, Clover Health<br \/>\n        CLOV,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/217322673\/composite\" class=\"positive\">+2.89%<\/bg-quote><span>,<\/span><br \/>\n       was also the subject of a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/hindenburgresearch.com\/clover\/\" class=\"icon none\">Hindenburg Research repor<\/a>t, which concluded that the company\u2019s \u201cculture is rooted in deception and has taken every opportunity to push or break the rules to mislead its customers, investors, and Medicare.\u201d The report also mentioned an undisclosed Justice Department inquiry, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/medium.com\/clover-off-the-charts\/in-response-to-short-seller-firms-questions-47798b0b76da\" class=\"icon none\">which Clover stated was not material<\/a> and that as a healthcare company, it frequently receives requests from regulators. <\/p>\n<p>Clover has disclosed an SEC investigation, which the company said is due to the Hindenburg report, and the stock is now trading around half of its December high of $16.77. A spokesperson for Clover Health declined to comment. Lucid Motors did not respond to requests for comment.<\/p>\n<p>As hefty investor losses start to become a more familiar scenario in SPAC land, more lawsuits could follow. The recent focus by the SEC, combined with more litigation, will continue to hurt the prices of SPACs that completed their deals, often referred to as the de-SPAC. It could also have a chilling effect on the many SPACs that have not yet made an acquisition. SPACs have a two-year deadline to make an acquisition, or they have to refund the money they raised in their IPOs to investors.  <\/p>\n<p>SPACs are not going to suddenly go away. There is still too much money looking for a home, and SPACs remain an investment vehicle that is intriguing to many investors and startups \u2014 scooter-transit company Bird announced a SPAC merger this week, and there are literally hundreds of SPACs still out looking for candidates.<\/p>\n<p>\u201cThere is no moratorium on people doing SPACs, or listing them,\u201d said Slovick at Barnes &amp; Thornburg. \u201cBecause there is so many of them they have exploded, and so much capital has gone into them. I do think the SEC is trying to slow things down, I think they are just being cautious.\u201d<\/p>\n<p>Hopefully, though, this slowdown and more scrutiny will help bring some common sense to this arena before too many more investors get hurt.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Therese Poletti\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Therese_Poletti\"><\/span>Therese Poletti<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-73EF-67545990A01A%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Opinion: The SPACsplosion has reached a reckoning &#8221; SEC investigations and pronouncements, class-action lawsuits and plunging stock prices have frozen the SPAC bubble in place, but the companies aren\u2019t going anywhere just yet The proposed merger between blank-check company Churchill Capital IV and Lucid Motors is a pretty typical example of the pandemic SPACsplosion&#8230;<\/p>\n","protected":false},"author":1,"featured_media":250855,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-250854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/250854","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=250854"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/250854\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/250855"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=250854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=250854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=250854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}