Deals
SPAC Bosses Flip to More Aggressive Terms as Buyer Mania Builds
- SoftBank, Khosla Ventures cut out traditional sweetener
- Change removes popular way for buyers to boost SPAC holdings
This article is for subscribers only.
SPAC bosses from billionaire SoftBank Group Corp. founder Masayoshi Son to Silicon Valley investor Vinod Khosla are starting to push tougher deal terms as the craze for blank-check companies builds.
This week, at least three special purpose acquisition companies preparing U.S. listings cut out a sweetener usually offered to investors. The change removes a popular way for punters to boost their holdings in a SPAC, showing how the most well-known issuers have gained the power to set their own agendas even as they compete for attention with hundreds of other deals.