SHAREHOLDER ALERT: Rigrodsky Law, P A Announces Investigation of Northern Star Investment Corp II Merger globenewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globenewswire.com Daily Mail and Mail on Sunday newspapers.
SPAC frenzy takes on wealthtech
SPAC deals are dominating the market as a convenient shortcut that allows fintechs to go public without the hassles involved in pursuing an initial public offering.
February 24, 2021 4 MINS
Special purpose acquisition companies, known as blank-check companies, are all the rage these days even celebrities like baseball legend Alex Rodriguez, former NBA star Shaquille O’Neal and pop star Ciara are loaning their star power to these reverse merger companies.
SPACs raise money through an initial public offering to acquire a private company, which then becomes public as a result of the merger. As of Wednesday, SPACs have already raised more than $53 billion in 2021 through 171 SPAC IPOs, according to SPACInsider.