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Wave of SPAC Deals Canceled in Latest Blow to Stumbling Industry

With just over half the year gone, SPACs and the companies that went public by merging with them have fizzled amid one of the stock market’s worst routs in decades that has been particularly cruel to riskier stocks. The De-SPAC Index, a basket of companies that completed their tie-ups, has crashed 68% and more than 700 SPACs are either on the hunt for deals or racing the clock to close ahead of deadlines.

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