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Technology Stocks : Blank Check IPOs (SPACS)
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To: Glenn Petersen who wrote (1345)11/15/2007 6:06:42 PM
From: jrhana  Read Replies (1) of 3862
 
Thanks for the article. Interesting that they do not discuss the role of the warrants.

<Another difference between the two approaches is that the SPAC buyer does not typically justify the deal by promising to improve the performance of the underlying company. The gain comes from finding a company that is not sophisticated enough or not well enough financed to go public on its own. The buyer's profit comes from the difference between what the existing management is willing to sell for and the value put on the concern by the markets.>

One way a SPAC can add value is to merge a number of smaller companies and create synergies.
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