Why Blank Check Companies (SPACs) Are Filling Up Fast

Special purpose acquisition company is a boring name for something generating a ton of excitement in financial circles this year. How about “blank check companies” — that’s more appealing. Or the idea of billion-dollar pools of cash, or the chance to buy into promising startups without the uncertainty of an IPO. Put it all together and SPACs sound pretty alluring. So far this year they’ve raised over $30 billion, more than double last year’s $12.4 billion. Whether the format will stick or is ju