In a SPAC transaction, a sponsor raises financing from investors using redeemable shares
and rights. When investors are sophisticated, these features dilute the sponsor's stake and …

We examine the structural characteristics of special purpose acquisition companies (SPACs)
focused on green causes. We explain their ecosystem, primary determinants of initial public …

Abstract The market of Special Purpose Acquisition Companies (SPACs) has exploded in
recent years, yet its volatile performance calls into question the implications of this unique …

A special purpose acquisition company (SPAC) allows sponsors to directly access public
capital markets to raise funds to conduct acquisitions. Traditionally, such sponsors would …

Abstract Special Purpose Acquisition Companies (SPAC) as acquisition funders are now
under investors scrutiny due to challenging market dynamics and pressure from regulators …

We present a model in which informed experts intermediate the going public process by
acquiring private firms and reselling them to public investors. Because information …

We construct a director network for 972 SPACs that raised $271 billion from investors. First,
we show that SPAC's investors receive lower returns and redeem more shares when …

Abstract Special Purpose Acquisition Companies (SPACs) have taken the initial public
offering (IPO) market by storm. SPACs were 2/3 of all IPOs in 2021 and have continued to be …

We examine the implications of special purpose acquisition companies (SPACs) in Korea,
where sponsor contracts are better aligned than in the US Unlike the large redemption rate …

We explore equilibrium allocation and efficiency when private firms are listed by merging
with a Special Purpose Acquisition Company (SPAC), compared with when they are listed …