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SPAC ATTACK: EXAMINING SPECIAL PURPOSE ACQUISITION COMPANIES
Thu, June 3 2:00 pm – 3:15 pm
The recent IPO surge of special-purpose acquisition company (SPACs) is an important market development. While the SPAC vehicle is not new, SPAC IPOs now comprise the majority of U.S. IPOs. The explosive growth continued into early 2021 and has raised concerns about whether the mania is reaching bubble proportions and whether disclosure and marketing practices offer adequate protections to investors. In particular, concerns are growing as to whether such investments are being mis-sold to retail investors, promising access to exchange-traded private equity opportunities normally unavailable to retail.
SPAC proponents argue that this structure is here to stay; that it provides retail a chance to invest in emerging companies while offering companies advantages over other IPO routes. Investor advocates, meanwhile, warn of the complexity, celebrity hype and fees being extracted by Wall Street professionals, potentially leaving investors with a very small interest in the eventual public company.
Join CFA Washington, DC and CFA Institute Advocacy for a timely discussion about the mechanics, prospects and pitfalls of the SPAC structure, and what’s on the horizon for the SPAC boom.
Who Should Attend:
- Wealth Managers/Financial Advisors
- Investment Professionals
- Market watchers
- Retail Investors
Qualifications: I hr Professional Learning | CFA Institute Competency Framework Skill = Industry Awareness + Regulatory Compliance