IPO Now, Business Later

摘要

For the past two years, the hottest way to start an oil company in the U.S. has been asking investors to write a blank check. Just form a publicly traded corporation called a special purpose acquisition company-or SPAC-which has no business other than to raise money and then find another venture to acquire or merge with.Why would investors buy stock in a blank check? If the SPAC is run by a star energy executive with a record of spotting valuable oil patch assets, it could be a chance to get in on a big deal early.