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You're thinking of "direct listings" (and even then, Morgan Stanley has done several of them). SPACs are actually fairly inefficient and usually give large wind
by boulos 5y ago
You're thinking of "direct listings" (and even then, Morgan Stanley has done several of them). SPACs are actually fairly inefficient and usually give large windfalls to the SPAC sponsors.
- bpodgursky 5y agoI'm far more OK giving a windfall to the SPAC sponsor who sought out and helped a promising company to merge with and list, than a WS gatekeeper who is paid simply for being in-between a startup and an IPO.
- mikeyouse 5y agoYeah, let's stick it to the Wall Street gatekeepers by paying fees to this SPAC. > The Angel Pond SPAC vehicle was founded by CEO and Chairman Theodore Wang, the founder of Puissance Capital Management and Angel Pond Capital and a former Partner at Goldman Sachs, and Simon Xie, the founder and Executive Director of Hangzhou Hupan Shannan Capital Management and a co-founder of Alibaba Group. If you want public money (via SPAC or IPO), you're paying money to "Wall Street" in one form or another.