A Sober Look at SPACs (2020)
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A Sober Look at SPACs (2020)
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Re: A Sober Look at SPACs (2020)
#2For a potentially more accessible version of this, Matt Levine wrote about the paper when it came out: https://www.bloomberg.com/news/newsletters/2021-01-08/money-...
There's also a summary blog post here: https://corpgov.law.harvard.edu/2020/11/19/a-sober-look-at-s...
Re: A Sober Look at SPACs (2020)
#3Just one example of why SPACs need to be looked at from a regulatory perspective:
https://www.cnbc.com/2021/02/05/chamath-palihapitiya-backed-...
In short, Clover Health is going public via a SPAC, but never disclosed it was under investigation by the DOJ.
> Clover said it decided it did not need to disclose the DOJ inquiries after consultation with its lawyers. The company did not say what the DOJ’s inquiries were about.
SPACs short-cut disclosure requirements, making it easier for companies to go public without the typical scrutiny that comes with the IPO process.
Re: A Sober Look at SPACs (2020)
#4For a potentially more accessible version of this, Matt Levine wrote about the paper when it came out: https://www.bloomberg.com/news/newsletters/2021-01-08/money-... There's also a summary blog post here: https://corpgov.law.harvard.edu/2020/11/19/a-sober-look-at-s...
The Matt Levine article is a great summary, thanks for sharing.
Re: A Sober Look at SPACs (2020)
#5> A special purpose acquisition company (SPAC) is a "blank check" shell corporation designed to take companies public without going through the traditional IPO process.
https://en.wikipedia.org/wiki/Special-purpose_acquisition_co...
Re: A Sober Look at SPACs (2020)
#6I know its high risk... but some of those space oriented SPACs are just so tantalizing, anything to get closer to investing in SpaceX...
Re: A Sober Look at SPACs (2020)
#7I cannot believe this game hasn't been shut down by the SEC yet.
Re: A Sober Look at SPACs (2020)
#8I'm definitely a geek at heart, I misread the title as a sober look at SPARCs!
Re: A Sober Look at SPACs (2020)
#9Just one example of why SPACs need to be looked at from a regulatory perspective: https://www.cnbc.com/2021/02/05/chamath-palihapitiya-backed-... In short, Clover Health is going public via a SPAC, but never disclosed it was under investigation by the DOJ. > Clover said it decided it did not need to disclose the DOJ inquiries after consultation with its lawyers. The company did not say what the DOJ’s inquiries were a…
Not long ago short sellers were claiming Tesla was in trouble with the DoJ over the Model 3. Ended up a big nothing; we don't know if there is any meat here.
https://www.cnbc.com/amp/2018/11/02/tesla-says-doj-and-sec-a...
Re: A Sober Look at SPACs (2020)
#10Just one example of why SPACs need to be looked at from a regulatory perspective: https://www.cnbc.com/2021/02/05/chamath-palihapitiya-backed-... In short, Clover Health is going public via a SPAC, but never disclosed it was under investigation by the DOJ. > Clover said it decided it did not need to disclose the DOJ inquiries after consultation with its lawyers. The company did not say what the DOJ’s inquiries were a…
Chamath first came to my attention last week when he introduced his run for California governor by promising to give everyone free money and cut taxes to zero. He then bought into GameStop stock, pumped it, and sold at the top while many gullible fools lost their life savings. What a shady dude.