Special Purpose Acquisition Company
- A SPAC is a public company formed to acquire a promising business.
- The acquired company goes public faster and cheaper vs an IPO.
- SPAC is money looking for companies, IPO is companies looking for money. source
- Companies going SPAC: 23andMe, Payoneer, Hyzon etc.
- Companies that have SPACed: QuantumScape (lithium batteries, up 162%), EVBox (EV charging, up 154%), RushStreet (social gaming, up 97%) etc.
Search Fund
Search Funds are the private version of SPACs. Chicago-Booth and Kellogg are hosting a Search Fund conference Entrepreneurship Through Acquisition (ETA) Feb 16-19, 2021 online. Topics include:
- Search Fund Business - Professional Bank
- Crafting Your Story as a Searcher - Paul Geiger
- Working with Investors - Relay Investments
- Current State of Search - Backcountry
- Exits, Recapitalizations and Roundtrips - AppliedData