If SPACs aren't a money cheat code, what are they? A real company puts out an S-1 to gauge market sentiment, and doesn't hide them behind a Richard Branson inve

If SPACs aren't a money cheat code, what are they? A real company puts out an S-1 to gauge market sentiment, and doesn't hide them behind a Richard Branson investment vehicle. > 23andMe isn’t doing a traditional IPO, but rather following the popular trend of using a SPAC (Special Purpose Acquisition Company), a blank-check company formed solely for the purpose of raising capital through an initial public offering, in this case run by Virgin founder and billionaire Richard Branson. https://finance.yahoo.com/news/23-and-me-to-go-public-at-35-billion-with-sir-richard-bransons-spac-145723271.html https://finance.yahoo.com/news/23-and-me-to-go-public-at-35-...