BuzzFeed Inc. is going public with the help of this decade’s trendiest financial instrument. No, not an NFT. The online publisher, known for its lighthearted lists and quizzes, is expected to start trading next week after merging with a special purpose acquisition company.
Investors have kicked in more than $190 billion to SPACs since last year, according to data compiled by Bloomberg. Shaquille O’Neal, Peyton Manning, Jay-Z and Donald Trump each have their own.
SPACs work like a blank check. Someone, often a well-known investor or celebrity, creates a shell company and sells shares to the public with the ...
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