SPACs, or unique purpose acquisition business, are shell companies that have no organization or assets, but are developed to raise money through a going public, or IPO, and then they later on use that cash to merge with or acquire a private, operating business. The raising of money to later buy a company has caused SPACs being called "blank-check" business. SPACs were very popular in the 2020 and 2021 going public (IPO) markets. Business like DraftKings (DKNG), Nikola (NKLA), and Virgin Galactic (SPCE) have made headlines and drawn the attention of financiers. So, how do SPACs work, and why are they so popular? And should you be worried about their unsteady track record? View to find out why some investors are looking better at these companies.

For more details, take a look at the Financier Bulletin from the SEC:

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