This applies to all SPACs not just EV SPACs. In the traditional IPO route the underwriting firm will have performed some due diligence - from a reputational ris

This applies to all SPACs not just EV SPACs. In the traditional IPO route the underwriting firm will have performed some due diligence - from a reputational risk standpoint. Without that element, SPACs were always going to be attractive to firms that had zero substance.