Investors and bankers are lining up to raise billions of dollars for new special purpose acquisition companies, defying predictions the asset class would be wiped out after a series of scandals and a regulatory crackdown. Spacs, colloquially known as blank cheque companies, raise money in an initial public offering before searching for a company to acquire. New fundraising has been improving slowly this year, rising about 20 per cent over the same period of 2023 to $3.
I’m not saying Spacs will fill the entire void there, but I certainly believe they can fill a sizeable amount.” Explorer is planning to raise funds for a new Spac in the fourth quarter of 2024 or the first quarter of 2025.
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