The Globe and Mail reports in its Thursday edition that SPACs are making a comeback. A Reuters dispatch to The Globe says a flood of expected blockbuster initial public offerings this year is creating an opening for special-purpose acquisition companies as smaller outfits seek to capitalize on a favourable market without having to compete for investor attention against the likes of SpaceX, Anthropic and OpenAI. That is giving blank-cheque companies renewed footing after years of upheaval, with a more mature SPAC market emerging when mega-IPOs are expected to command an outsized share of investor capital and attention. "A parade of mega-IPOs could make life harder for smaller issuers with the giant names soaking up headlines, analyst attention, institutional bandwidth and a meaningful share of available capital," said Michael Ashley Schulman at financial advisers Cerity Partners. "A SPAC could open a quick side entrance." SPACs allow companies to go public without raising fresh capital from investors. They had been written off after a pandemic-era boom during which hundreds of blank-cheque companies rushed to market. Many of those companies later struggled to find acquisition targets or ultimately delivered poor returns.