John Ruiz of MSP Recovery in Coral Gables/courtesy photo Coral Gables Litigator Sees SPAC Value Plunge on First Day of Trading
The more than 50% drop in stock price reduced the market value of John Ruiz's 65% stake in the company from more than $21 billion at the merger price to less than $11 billion at market close.
May 24, 2022 at 05:26 PM
3 minute read
Litigators
When the market opened on Tuesday, the second-largest special purpose acquisition company began trading on the Nasdaq, and cemented a Coral Gables attorney as one of the wealthiest Cuban-Americans in the country.
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