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Chamath Palihapitiya speaks to SPAC concerns, from fees to disclosures to quality



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It was almost exactly two years ago that a special purpose acquisition vehicle (SPAC) spearheaded by investor Chamath Palihapitiya took public the space tourism company Virgin Galactic. It was the first human spaceflight company to trade on the NYSE — or any exchange, for that matter — and it was so successful, with the company’s shares trading higher and higher for so many months afterward, that it almost immediately kicked off the SPAC frenzy.
Consider that in the first three months of this year alone, SPACs raised $87.9 billion, exceeding the total issuance in all of 2020, according to data from SPAC Research. …

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