Tell that to Jay Sidhu and BankMobile/bmtx. Started his SPAC when the Flagship acquisition of BankMobile was failing. After never being able to dump the asset from Customers Bank, his son's SPAC purchased BankMobile.
It would be hilarious if it weren't so sad how preferential treatment from the SEC is. I wonder if they're just lazy or if there really just is a wall street nepotism club.
Kinda amazing how much trust people put into an institution with the bulk of their net worth that routinely ignores and enforces rules arbitrarily.
Or Patrick Orlando and Donald Trump, who reportedly discussed their SPAC merger months before Orlando sold shares to investors. But then, I think enforcing this no-contact law will be hard, i.e. difficult to prove unless regulators obtain explicit proof of a conversation between interested parties.
Kinda amazing how much trust people put into an institution with the bulk of their net worth that routinely ignores and enforces rules arbitrarily.