In Mintz’s recent article—“Public Benefit Corporations are Going Public,”—we predicted that, as Special Purpose Acquisition Companies (“SPACs”) reemerge as an alternative to initial public offerings (“IPOs”), Public Benefit Corporations (“PBCs”) would start going public through the SPAC process.
Institutional demand buoys socially conscious SPACs
Some of the world’s largest asset managers from Blackstone to BlackRock have signaled an appetite to invest in socially responsible companies—and special-purpose acquisition companies are all too happy to serve them.