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SHARE Photo by Mark Finn via Unsplash Special-purpose acquisition company (SPAC) listings hit a record high in 2020 with 165 global SPAC IPOs occurring from January to October 2020, nearly twice the number of SPAC IPOs issued in 2019 and roughly five times that of 2015. While not a new phenomenon, these “blank-check” companies have exploded as an alternative way to take a business public, with familiar sponsors that investors trust often at the helm. “For many years, people, including me, would walk around saying, ‘I really don’t like the classic IPO process,’ yet there wasn’t a good alternative,” David Schamis, founding partner and chief investment officer of Atlas Merchant Capital, explained to ....