A primer on, and demanding take a look at, certainly one of Wall Street’s hottest traits: particular function acquisition firms.
Particular function acquisition firms have been round for the reason that 1990s, however have seen a big uptick in recognition lately. Corporations like Virgin Galactic, Draft Kings and Nikola have modified SPAC’s status from a device for second- and third-tier personal fairness outlets to win charges to a official various to preliminary public choices. In 2020, SPACs have made up roughly 40% of the IPO market.
Not too long ago, chatter round SPACs reached a fever pitch with the itemizing of Invoice Ackman’s Pershing Sq. Tontine Holdings – the largest-ever SPAC.
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