Software firm Corcentric, SPAC North Mountain end $1.2-billion deal

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Software firm Corcentric and blank-check firm North Mountain Merger Corp said on Monday they would terminate their $1.2-billion merger deal, in yet another sign that the SPAC boom has fizzled out. Special purpose acquisition companies (SPACs) offer an alternate route to list shares and gained populari

Software firm Corcentric and blank-check firm North Mountain Merger Corp said on Monday they would terminate their $1.2-billion merger deal, in yet another sign that the SPAC boom has fizzled out.

The De-SPAC Index, which tracks the performance of 25 companies that went public after merging with SPACs, is down nearly 60 per cent so far this year.

 

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