Chamath Palihapitiya returning $1.5bn to investors after failing to find targets

Mr. Palihapitiya said the creators considered more than 100 companies to take public, but weren’t able to complete attractive mergers. The blank-check firms hold $460 million and $1.15 billion, respectively, making them two of the larger SPACs in the market and showing how the boom has reversed for many investors.

“It is a very, very precarious moment in the public capital markets,” the former Facebook executive said.

Source: https://www.wsj.com/articles/spac-king-chamath-palihapitiya-...

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