High redemption rates see SPACs relying on alternative financing [Reuters]
Virgin Orbit Holdings, Inc. (VORB)
Company Research
Source: Reuters
See all NextGen Acquisition Corp. See all Redwood Capital Management See all The company and law firm names shown above are generated automatically based on the text of the article. We are improving this feature as we continue to test and develop in beta. We welcome feedback, which you can provide using the feedback tab on the right of the page. January 14, 2022 - When a special purpose acquisition company (SPAC) completes an IPO, the proceeds are held in a trust account until the SPAC identifies a target company to merge with, typically within a one- to two-year window after listing. Because the SPAC itself has no business operations and the target company isn't known at the time of the IPO, investors have the opportunity to redeem their shares prior to the business combination for a pro-rata share of the funds in the trust account. These redemption rights help incentivize investors by providing a "money-back guarantee" of sorts, allowing them to redeem their shares at t
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