2021: A SPAC odyssey

There are a number of ways to take a private company public: You can pursue a traditional IPO, sell a chunk of shares at a set price and start trading. You can direct list, and merely start to trade. You can host a hybrid auction-offering, like what Unity did. Hell, Google showed us back in the day that a reverse-Dutch auction is possible, after which no one else deigned to try it. And then there’s the blank-check method: Instead of taking your company private, some rich people list a pile…

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