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Two crossed lines that form an X . It indicates a way to close an interaction, or dismiss a notification. Evan Ratner is a SPAC portfolio manager at Easterly Alternatives. Easterly Alternatives
Evan Ratner is a portfolio manager specializing in SPAC investing at Easterly Alternatives.
He started investing in SPACs in 2007 and witnessed how they have evolved into a feeding frenzy.
He shared the key to finding attractive SPACs, including three blank-check companies on his radar.
Evan Ratner never thought he d see the SPAC boom of 2020. SPACs used to be a backwater as a way for guys to easily raise pools of capital, said Ratner, who started investing in Special Purpose Acquisition Companies in 2007. The so-called blank-check companies are created solely to raise capital through an initial public offering and acquire an existing firm.
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A $12.5 million investment in clean energy earned an “accidental” profit of $200 million from a blank-check company. Here is how that works.
Blank-check companies SPACs or Special Purpose Acquisition Companies are proliferating, a strong signal that this market has gone wild.
Blank-check vehicles are shell companies used to take a private company public while bypassing the normal requirements for a stock market listing. Along the way many people gain substantial riches, sometimes without taking any risk.
Even institutional investors, like AIMCO and the Health Care of Ontario Pension Plan, are getting involved in this hot market. One of the largest funds to participate is Saudi Arabia’s $300 billion Public Investment Fund.