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SPAC Bingo
SPAC Red Flag Bingo
Every SPAC has red flags. Click the squares that match your SPAC. If you get bingo, run.
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Revenue projections 10x actual
"Disrupting a $1T market"
95%+ redemptions
Projected profitability in 2024
"Strategic partnership" with nobody
Merged with a different company
SEC investigation
Board member is sponsor's friend
PIPE investors dumped
More executives than customers
Chamath was involved
De-listed from NASDAQ
FREE SPACE 💀
"Asset-light business model"
Reverse stock split
"ESG-focused"
No revenue at merger
CEO resigned within a year
PowerPoint-only product
"First mover advantage"
Celebrity endorsement
SPAC of a SPAC
Warrants exercised at bottom
Lock-up expired, insiders fled
Filed bankruptcy within 2 years
New Card 🔄