The deadline for Special Purpose Acquisition Companies or SPACs to spend their IPO money is looming. It doesn't help that existing SPACs are from the turbulent oil and gas industry. In an ominous sign of what is to come, the share price of Hibiscus, the only SPAC that has purchased a qualifying asset, has collapsed. We assess the position of SPAC shareholders in this episode of S&M.

<p>The deadline for Special Purpose Acquisition Companies or SPACs to spend their IPO money is looming. It doesn't help that existing SPACs are from the turbulent oil and gas industry. In an ominous sign of what is to come, the share price of Hibiscus, the only SPAC that has purchased a qualifying asset, has collapsed. We assess the position of SPAC shareholders in this episode of S&amp;M.</p>

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