SPACs were a way to go public and avoid the scrutiny of IPO process. Solid companies do IPO cause their financials look good and IPO give them more money. Dubio

SPACs were a way to go public and avoid the scrutiny of IPO process. Solid companies do IPO cause their financials look good and IPO give them more money. Dubious companies used SPAC because their financials didn't look good and SPAC could conceal that. The result is that the scammier and speculative companies used SPACs, and when investor money dried up and companies had bad results, SPACs disappeared.