Europe sets up 10 SPACs for the upcoming year. The United States has been successful with Special Purpose Acquisition Companies (SPACs), so Europe wants a part of the action with a slew of shell companies in the pipeline for 2021. By definition, SPACs are shell companies that use proceeds from going public to buy other companies. The resulting merger offers a faster and more cost efficient way of going public in comparison to an initial public offering (IPO).
This year alone, the United States saw a merger between DraftKings and Diamond Eagle Acquisition. On top of that, there was also a merger of Nikola and VectoIQ Acquisition Corp. According to Refinitiv data, $63 billion was raised through almost 200 SPAC listings in the Untied States this year. In comparison, it has not been very ...
