Everything You Need to Know about SPACs

Xanara21 Jun, 2021Finance

SPACs, or special purpose acquisition companies, have grown in popularity exponentially in the past few years, especially in the US markets. Although SPACs are not new, it could be said that they were brought back to the attention of the world by venture capitalist Chamath Palihapitiya, whose SPAC, Social Capital Hedosophia Holdings, bought a 49% stake in Richard Branson’s Virgin Galactic for 800 million USD before listing the company in 2019. Till date, this probably remains one of the most high-profile SPAC deals ever.