Sports Ventures Acquisition filed with the US securities and exchange commission (SEC) on 9th October with an aim of raising US$200 million from its initial public offering.
Blank-check companies are having a record-breaking year, raising about $41 billion so far, according to data compiled by Bloomberg.
The SPAC boom just became a little bigger. Gores Holdings IV, a special-purpose acquisition company that raised $425 million at the start of the year, has agreed to combine with United Wholesale Mortgage in a reverse merger that will value the mortgage origination provider at roughly $16.1 billion, marking the largest SPAC merger on record, the company said.
New York lawyer Douglas Ellenoff’s firm was the go-to adviser for “blank-check” initial public offerings long before the niche market exploded into the most fashionable way to go public.
What do former Speaker of the House Paul Ryan, one-time Trump chief economic adviser Gary Cohn, and Oakland A’s executive vice president Billy Beane have in common?
The SPAC market may be getting frothy.
Just like in entertainment, when network executives copycat a hit show format until the market is saturated, investors are flooding the market with special purpose acquisition companies, or SPACs, to scout private companies to take them public.
What is it about blank-check companies that appeals to operators and what exactly is exciting investors so much? The term…
SPACs are just getting started The “blank check” acquisition funds known as special purpose acquisition companies, or SPACs, have raised more…