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Experts agree the IPO market is heating up but one segment of it is being left in the cold: Special Purpose Acquisition Companies of SPACs, which are publicly-traded shell companies with a mandate to acquire a private firm. SPACs provide a back door of sorts to the public markets and, while they were wildly popular in 2021, the model is now languishing as SPACs accounted for only 6.3% of the $8.4 billion raised by IPOs in the first quarter of 2024. A Q1 2024 Quarterly Review also shows SPACs in...