Surge in ‘Blank Check’ Companies Keeps SPAC Specialists Busy

The relatively new arrow in private equity's quiver is gaining staying power, and so have the lawyers handling the unique offerings.

What do former Speaker of the House Paul Ryan, one-time chief economic adviser , and Oakland A's executive vice president have in common?

The three have all recently taken leadership roles in SPACs, also known as “blank check” companies. Similar to traditional initial public offerings, these “special purpose acquisition companies” raise capital, but they do so specifically for the purpose of acquiring another business, whose identity is unknown at the time of formation.

Read Full Story at The American Lawyer

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