LinkedIn, Zynga Founders Prep $600M Tech Blank-Check Co.

Law360 (August 31, 2020, 6:56 PM EDT) -- LinkedIn co-founder Reid Hoffman and game developer Zynga founder Mark Pincus' blank-check company, Reinvent Technology Partners, said Monday that it is aiming to raise $600 million in an initial public offering steered by Skadden and Ropes & Gray.

Blank-check companies, also called special purpose acquisition companies, raise money through IPOs to later take private a public company. The shell companies generally target businesses in industries that match their management team's expertise.

Reinvent Technology, advised by Skadden Arps Slate Meagher & Flom LLP, said in a regulatory finding it was hoping to fund a future tie-up with a technology business. The SPAC...

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