Mensuel de novembre 2021 - Fonds d’investissement

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Understanding the SPAC enigma
A SPAC (Special Purpose Acquisition Company) is fundamentally a shell company incorporated by promoters (“Sponsors”) with the exclusive purpose of raising sufficient funds through an IPO (or rather a “Private Placement” as the subscription is reserved to a limited number of institutional investors selected by the Investment Bank(s) acting as underwriter(s)) to eventually acquire a company.   SPACs do not have any identified target while listing on a stock exchange, meaning that investors in a SPAC do not know what the ultimate acquisition target would be. However, SPACs generally have certain industries and sectors identified for target screening which are disclosed in the offering prospectus.   SPACs are generally sponsored by prominent entrepreneurs,...
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