SPAC Raises Funds 100 Times Larger Than the Entire Tokyo Stock Exchange
What is a SPAC? Evo Acquisition, a blank check company targeting the tech and financial industry, on February 9th raised approximately $109 million. Following the surge of IPOs by other black check companies, Evo Acquisition plans to list on the Nasdaq under the symbol of EVOJU. Evo Acquisition is a special purpose acquisition company (SPAC), which their sole objective is to acquire startup companies rather than owning their own commercial operations. As an alternative name “blank check company” suggests, a SPAC is not an ordinary type of company; and it has gain popularity over recent years. How They Work SPACs generally collect capitals from their investors through utilizing the reputable foundation of well-known private investors and sponsors, whom are part of the management, in order […]
