Ann: EUR Merger with NASDAQ Corp - Equity Consideration US$750m, page-206

On the contrary, it seems Australians understand SPACS only too well.

https://moneyfortherestofus.com/318-what-is-a-spac/#:~:text=for%20individual%20investors.-,Most%20SPACs%20underperform%20the%20stock%20market%20and%20eventually%20fall%20below,wary%20of%20investing%20in%20them.

Poor SPAC Performance

SPAC performance has been subpar and could be even worse going forward given the amount of capital that has been raised as SPACs compete with each other for target companies, potentially overpaying.

Academics Johannes Kolb and Tereza Tykvova analyzed the performance of SPACs that went public between 2013 and 2015.

After adjusting for size and industry, they found that SPACs not only lagged the overall stock market but underperformed traditional IPOs.

The Financial Times also analyzed SPAC performance and found most traded below their IPO prices, underperforming the overall stock market.The authors wrote, “The poor investment record of many SPACs is a reminder than when Wall Street pushes a new product, clever financiers invariably find a way to shift most of the risk onto ordinary investors—even if a new generation of SPAC founders believes they will avoid the problems of the past.”