Up to 30% of Spac IPOs could struggle to find an acquisition target, say dealmakers, scuppering a lucrative market for banks that have already hauled in $2.3bn in fees in 2021.

Sceptical investors, longer deal completion times, growing redemptions and a scarcity of funding has slowed the pace of so-called de-Spac transactions in the past two months, specialist dealmakers told Financial News.