With SPAC­s' high tide long gone, Blue Wa­ter ditch­es sec­ond blank check voy­age

The SPAC wa­ters have been chop­py for a few quar­ters, and the lead­ers of Blue Wa­ter Vac­cines are join­ing the wave of blank-check op­er­a­tors ditch­ing plans to dock their boat on Wall Street.

While the Blue Wa­ter duo of Joseph Her­nan­dez and Jon Garfield was suc­cess­ful in get­ting their first SPAC to merge with a biotech, testos­terone drug mak­er Clarus Ther­a­peu­tics, and al­so take their own biotech pub­lic in Feb­ru­ary, they have de­cid­ed to back out of the SPAC mar­ket, fol­low­ing the suit of many oth­ers.

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