What Is a SPAC? (SPAC Stocks 101)
What is a SPAC?
There have been a lot of high profile deals done in 2020 under a SPAC…but what exactly are they and how do SPACs work?
In 2020 alone, there have been 50+ SPACs formed, raising over $21B.
SPACs are an acronym for special purpose acquisition company.
This is a company with no commercial operations that are formed strictly to raise capital through an initial public offering (IPO) for the purpose of acquiring an existing company.
SPACs are also known as “Blank Check Companies” because the IPO investors typically don’t know what they’re investing in until the acquisition is made.
Some examples of SPACs are:
– Draft Kings ($DKNG)
– Nikola Corp. ($NKLA)
– Virgin Galactic ($SPCE)
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⏰ Timestamps ⏰:
0:00 – Introduction
0:40 – What is a SPAC?
2:00 – How Do SPACs work?
3:38 – SimpleSafe Spot
6:22 – Examples of SPACs
8:55 – My Thoughts on SPACs
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