The special purpose acquisition vehicle, or SPAC, is aiming to seize opportunities created by the coronavirus pandemic — anything from start-ups to private equity-backed companies or family-owned businesses in need of capital.
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Ackman’s ‘blank cheque’ company looks to raise up to $6.5b
Blank cheque companies have become an increasingly popular tool to raise capital, with a record $13.4bn in proceeds last year, according to Dealogic. Mr Ackman joins a large cohort of investors who have raised funds on public markets as Wall Street embraces backdoor listings.
