AGC - Altimeter's Gerstner says there needs to be a 'massive shakeout' in the SPAC world

Brad Gerstner, who runs hedge fund Altimer Capital and has his own SPAC, said there needs to be a "massive shakeout" of the SPAC world."These are sponsors that have no business bringing companies public and they are companies that have no business being in the public markets," Gerstner said in an interview on CNBC.Gerstner didn't have any update on his SPAC Altimeter Growth Corp. (AGC) and what it's target would be ."Is there something different between an Altimeter founder's IPO and all of this noise and chicanery that is going on in the SPAC market," Gerstner said.

For further details see:

Altimeter's Gerstner says there needs to be a 'massive shakeout' in the SPAC world