there are hundreds if not thousands of zombie biotechs like Cyrcadia staggering around and a SPAC has never bought even ONE of them and never will.
That's not why initial investors pour money into a SPAC. They want to see the SPAC buy Virgin or Draftkings, not a zombie biotech run by four people in Reno who have a history of failed businesses and haven't done anything visible since 2019.
"SPAC!" is a more ridiculous false rumor than "BUYOUT!"