Anyone Who’s Anyone Has a SPAC Right Now

SPACs are shell corporations that list on a stock exchange, with the goal of buying a private business and taking it public. In essence, a SPAC is a way to do an I.P.O. without all the time, expense and regulatory oversight traditionally required. The sponsors of a SPAC typically have two years to identify acquisitions or must return their investors’ money.

Everyday investors can put money into SPACs — they are traded on various exchanges — and before the SPAC has bought a company, its funds are typically invested in government bonds.

https://www.nytimes.com/2021/02/27/style/SPACS-celebrity-craze.html

https://www.ustodaylife.com/anyone-whos-anyone-has-a-spac-right-now/