Blank page

5 October 2020 By Lauren Silva Laughlin Follow @TheRealLSL

Blank check companies have many qualities of an investment mania. There’s even an ETF that lets everyday investors take a punt on these complex, insider-friendly acquisition vehicles. With a cleanup, though, they could shed their shady image. The IPO world could use disruption.

This content is for Subscribers only

Context News

The Defiance NextGen SPAC Derived ETF started trading under the ticker symbol “SPAK” on Oct. 1. The exchange-traded fund will track shares of companies that listed by merging with special purpose acquisition companies, as well as shares of blank check companies that haven’t yet found a target.

On Sept. 24, Securities and Exchange Chairman Jay Clayton said on CNBC that the regulator was looking into the compensation structure of SPACs.

A blank check company backed by the former chief executive of MGM Resorts International, James Murren, is looking to raise $300 million in a blank check initial public offering, according to a regulatory filing on Oct. 5.

Email a friend

Please complete the form below.

Required fields *