INSIDE A SPAC: HOW IT FEELS TO GO PUBLIC WITH 2020’s HOTTEST FINANCIAL TOOL

You know the tubes from “Futurama,” where you step in and are accelerated at super-high speed to your destination? That’s how asset manager Daniel Cohen describes the SPAC process. He should know: His SPAC has just taken used-car sales company Shift public. For many involved, doing a SPAC is a totally new experience, full of peculiarities that you might not expect. But despite the work and the learning curve, SPACs are more popular than ever. They have already raised over $41 billion this year: more money than in the last 10 years combined, according to Bloomberg data. But deciding to do a SPAC is just the start of the process. Next, companies have to find a SPAC to merge with. Those SPACs — essentially blank-check investment vehicles taken public with a large chunk of investor cash — meanwhile, are out looking for companies. They usually have specific sectors in mind. In all likelihood, SPACs will neither be the future for everyone, nor will they be consigned to the trash can of defunct financial inventions. Read More >>

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s