Money Makers Mentor

Europe Sets Up 10 SPACs

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 …

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