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Matt Levine’s Money Stuff: Trump SPAC Had a Head Start

Nov. 1, 2021, 5:16 PM

Trump SPAC: Background of the Transactions

The way a special purpose acquisition company works is that a sponsor raises a bunch of money and then goes out and looks for a private company to take public using that money. In theory anyone could do this. I could launch a SPAC, the SPAC Stuff Acquisition Co., and try to raise money from the readers of this column. Maybe it would work. Then I’d have some money in the bank, and then I’d go out and look for a company to acquire. How would I do that? I don’t know. I don’t ...