Why Blank Check Companies Are The Hottest Thing This Year
Why Blank Check Companies Are The Hottest Thing This Year
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Every week, hosts Joe Weisenthal and Tracy Alloway take you on a not-so-random walk through hot topics in markets, finance, and economics.
SPACs have been around a long time. The basic premise is that a group of people raise a bunch of money from public market investors, with the premise of then going out to buy a specific, individual company. They're seen as an alternative to IPOs. While historically they've had a reputation for some questionable deals, this year they've been booming. All kinds of big names like Bill Ackman and Paul Ryan (yes, that one) are getting in on the action. On this episode, we speak with Kelly Driscoll, one of the founders of the SPAC Fusion Acquisition Corp, who explains why these entities are so hot right now.
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