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Chamath Palihapitiya Liquidating 2 SPACs: Are Dreams Of Creating The Next Berkshire Hathaway Over?

Benzinga Real-time News · Sep 20, 2022 13:32

Known by many as the SPAC King,Chamath Palihapitiyawas one of the biggest names associated with the growing number of blank check companies taking private companies public. When SPACs were hot with the market, Palihapitiya was loved by investors and companies.

Years later, Palihapitiya has been less active in SPACs. An announcement Tuesday could see Palihapitiya face more criticism and continue to put a negative spotlight on SPACs.

What Happened:Chamath Palihapitiya announced Tuesday that two SPACs he launched are liquidating.

"Over the past two years, we evaluated more than 100 targets and while we came close to doing a...

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).

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In Malaysia, investment products and services available through the moomoo app are offered through Futu Malaysia Sdn. Bhd. ("Moomoo MY")regulated by the Securities Commission of Malaysia (SC). Futu Malaysia Sdn. Bhd. is a Capital Markets Services Licence (License No. eCMSL/A0397/2024) holder. This advertisement has not been reviewed by the SC.

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