http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
The last year has witnessed a growing number of start-ups that are going public via a special purpose acquisition company (SPAC). Commonly referred to as "blank-check companies," SPACs are shell companies whose purpose is to raise capital via IPO solely to later merge with another company-thereby taking that company public while foregoing the usual regulatory procedures of a traditional IPO. It has been a successful strategy so far, with an increasing number of celebrity endorsements and at least one new SPAC going public daily since July 2020. But the regulatory side-stepping has raised concerns in the Securities and Exchange Commission, with experts warning stakeholders against investing in blank-check companies without knowing what those SPACs will later acquire. This case asks students to discuss blank-check companies considering the criticisms against them.