Yet Mr. Burns was still struggling to raise enough capital. Another upside: Unlike a conventional initial public offering, a SPAC merger will take just a couple of months, Mr. Burns said. We wanted to get it done and get to the business of building the vehicle.”SPACs are suddenly in the limelight. Sometimes called blank-check companies, SPACs raise money from investors without having a detailed business plan. Their sole purpose is to find another business to buy within two years.

Source: New York Times August 23, 2020 09:00 UTC