2 ms·
Isn't the goal of an SPAC to basically circumvent the IPO auditing and reporting rules to allow them to scam purchasers^w^w "streamline listing the stock"?
by olliej 3y ago
Isn't the goal of an SPAC to basically circumvent the IPO auditing and reporting rules to allow them to scam purchasers^w^w "streamline listing the stock"?
- jonathankoren 3y agoI always figured it was "We're old, and need money, but can't raise a round." If it was a viable business, just do an IPO.
- paxys 3y agoYes. People will try and come up with long winded justifications for them but there's really nothing deeper going on. Failing companies want to dump shares on retail investors but don't want to go through IPO due diligence and reporting, hence SPACs.