Jay Ritter

Goldman Sachs and other big banks hit SPAC pause button as market shifts and new regulations loom

Goldman Sachs Group Inc. said it’s taking a break from handling special-purpose acquisition company (SPAC), or blank check, initial public offerings amid a sharp slowdown in the market in recent months.

IPO expert Jay Ritter, Cordell Eminent Scholar at University of Florida’s Warrington College of Business, said Goldman may be blaming regulators for its current exit from the SPAC market, but the big banks have already pulled out anyway.

Read more insights from Ritter in this story from MarketWatch