Mark Cuban-backed fintech Dave’s public offering puts SPACs to the test

Mark Cuban-backed fintech Dave’s public offering puts SPACs to the test

he special purpose acquisition company (SPAC) boom did not play out as some folks in the technology and business worlds hoped. Despite a wave of optimism through early 2021, private companies that pursued public debuts with the help of blank-check companies have frequently failed to cover themselves in glory in the intervening quarters.

Even more, a wave of SPACs failed to take a market-changing number of unicorns and other high-priced private companies public; the number of private unicorns continues to grow more quickly than even a SPAC-juiced public market has been able to receive them.

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