Mar 30, 2021
Special Purpose Acquisition Company - What are they, what do they mean and how can they be beneficial to me and my financial situation.
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📽 Watch my BNN appearance about SPACs: https://youtu.be/EiM44bTbghE
SPACs Are taking the world by storm and are very popular among todays investors...here's why:
- A company with no commercial operations
- strictly there to raise capital, done through an IPO, with the sole purpose of acquiring an existing company
- a SPAC has 2 years to complete the deal otherwise money will be returned to the investors.
- A SPAC is effectively a blank check company - used to acquire a private company
- It's a way for anyone to get into the private equity market.
- typically this type of deal was reserved for the wealthy.
- SPACs are now dealing with a much wider range of companies.
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