News for ArcLight Clean Transition Corp. (ACTD)

The SPAC golden age might finally be coming to an end. Special purpose acquisition vehicles, or black check companies, became a method of choice over the past two years for taking new businesses public, raising a record $160 billion in 2021. But now that the Federal Reserve’s interest rate-hike plans are splashing cold water over a formerly blistering-hot stock market, the appeal of SPACs is starting to wane as the values of portfolios drop.