9 Blank-Check IPOs Rake In $2B As SPAC Blitz Continues
Law360 (December 11, 2020, 7:04 PM EST) -- Two blank-check companies — one looking for businesses serving the elderly and the other hoping to merge with financial technology enterprises — led a horde of nine special-purpose acquisition companies whose units kicked off trading Friday, raising nearly $2 billion in total through initial public offerings.
Blank-check companies, or special-purpose acquisition companies, raise money through IPOs to take privately held companies public, generally within 24 months of the offerings. The other SPACs debuting on the stock exchanges were targeting sectors ranging from insurance to travel and transportation to education technology, among others.
White & Case LLP, Graubard Miller and Loeb &...
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