Bloomberg.com reports SPACs are booming again after a five-year lull
Photo by Andreas Weiss on Unsplash
SPACs, speculative investment vehicles popular five years ago, are experiencing a resurgence by raising capital to acquire private companies. Tech investor Chamath Palihapitiya is returning to this space, and Donald Trump's sons are advising a SPAC focused on acquiring a manufacturing company.
Key takeaways
- Special purpose acquisition companies (SPACs), speculative investment vehicles that gained prominence five years ago, are undergoing a renewed surge in activity
- These "blank check" companies, lacking an existing business, raise capital from investors with the intent of acquiring private companies, providing them with an expedited route to the public markets
- This resurgence is attracting notable figures, including tech investor Chamath Palihapitiya, who was a prominent advocate during the SPAC boom of 2020-2021
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