A SPAC Called Good Works Wants to Save Distressed Businesses

Good Works Acquisition Corp., a special purpose acquisition company that’s about to make its market debut, has an unusual target in mind for a merger: those in financial distress.

• Good Works is looking to merge with companies that are “either in financial distress or have completed and emerged from a financial restructuring,” including Chapter 11 bankruptcy, according to a filing
• Secondarily, it intends to make 750,000 founder shares available to non-profit organizations
• Good Works will list equity units, common stock and warrants under tickers “GWACU,” “GWAC” and “GWACW” on Nasdaq
• 15,000,000 equity units to price at $10 per unit, ...