Goldman Sachs Returns to SPAC Underwriting

Goldman Sachs is again open to underwriting new deals for special-purpose acquisition companies, Bloomberg reported, after pulling back from SPAC work three years ago amid regulatory scrutiny of blank-check deals.

The SPAC dealmaking boom that peaked in 2021 was a gold rush for Wall Street firms, since banks often advised the blank-check companies on their own public listings and acquisitions they made after that. The frenzy attracted scrutiny from securities regulators, potentially exposing banks that worked on the deals to liability, and many companies that merged with SPACs performed poorly on public markets.

But there’s been a fresh wave of new blank-check IPOs this year, and the Securities and Exchange Commission under President Donald Trump is expected to ease SPAC oversight. Goldman will evaluate potential new SPAC work on a case-by-case basis, according to the Bloomberg report.

Goldman Sachs declined to comment.