All SPACs, and some traditional IPOs, are a last ditch effort of dumping worthless equity onto naive retail investors.
The fact that some recover and become "real companies" doesn't detract from this. Beware the IPO and the SPAC.
> The company in February projected an operating loss of $43.2 million this fiscal year on sales of $47.4 million and an operating loss of $44.7 million in fiscal 2023 on sales of $63.5 million.