Hedge fund billionaire Bill Ackman launched his “special purchase acquisition company” (or SPAC) on the New York Stock Exchange (NYSE) Wednesday (July 22), positioning the vehicle as a better alternative for taking a promising private company public. Ackman raised $4 billion in an initial public...
Amid Wall Street’s gyrations and the search for the next great tech unicorn: Blank checks for blank check companies? On Monday (June 22), CNBC reported that famed investor Bill Ackman is seeking to raise $3 billion for an initial public offering (IPO) of his blank...
March 10, 2021
Investors from all levels of expertise have been flocking to special purpose acquisition companies (SPACs), a tendency that has some financial planners — and the Securities and Exchange Commission (SEC) — worried, Bloomberg reported on Wednesday (March 10). SPACs, also known as blank-check companies, operate like corporate shells that exist to take companies public. The […]
