This year has seen an incredible increase in interest surrounding special purpose acquisition companies (SPACs). In fact, many companies have come to the market via this path. These companies do not have operations, but instead exist to raise capital via an initial public offering (IPO) to fund the company they merge with.
Social Capital Hedosophia Holdings Corp. II today announced the pending transfer of the listing of its Class A ordinary shares, par value $0.0001 per share and redeemable warrants from the New York Stock Exchange to The Nasdaq Global Select Market related to its pending business combination with Opendoor Labs Inc.
CNBC’s Jim Cramer has been bashing SPACs on Twitter and his show this week. That drew attention from the so-called SPAC King Chamath Palihapitiya.
SPACs used to be a small segment of the market, but elite law firms have flocked to the sector in…