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SPACs Get a Royal Smackdown!
Special purpose acquisition companies (SPACs) or “blank check companies” are shells. Their reason for being is to pool capital via IPO then identify a corporation to acquire. You might remember, SPACs were all the rage last year. From athletes to celebrities, financiers and newbie retail, everybody seemed to be getting-in. 2021 was a SPAC rush! 613 SPACs were…
