Activist investors are hunting targets in the SPAC market, but battles won’t be easy to win

The once red-hot SPAC market is becoming a fertile ground for activist investors who push for changes at problematic companies and profit from them.

A record number of companies went public over the past two years by merging with special purpose acquisition companies, a fast-track IPO alternative vehicle. New to the public markets and often underperforming, industry experts believe these companies could increasingly become vulnerable to activist involvement.