Dozens of companies that entered US markets through deals with blank-cheque vehicles in the past year are set to graduate into the Russell 3000 index on Friday evening, giving a potential boost to the fortunes of electric vehicle developers and other speculative ventures.
FTSE Russell, which maintains the popular benchmark, is conducting the annual refresh of its indices this month, adding and removing companies based on their market capitalisations and other factors.
Rodrigues, Usha, "Dozens of Groups Brought to Market via SPACs to Enter Key Russell Index" (2021). Popular Media. 322.