What is a SPAC? Are SPACs a Smart Investment Option for 2022?

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SPACS or special acquisition companies are becoming a popular way to raise money. It is a unique and innovative concept that, on the surface, doesn't seem to make sense.

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A SPAC is a company that raises money from investors to acquire another company. They are typically listed on an exchange and have a board of directors and management team.

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SPACs have been around for quite some time, but in 2020 there was a sizable SPAC boom. 248 SPACs went public in 2021 and raised a total of $83 billion.

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For comparison, there were only 59 that went public in 2019 and raised $13 billion.

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The first Special Purpose Acquisition Company was created in 1993 by Bill Ackman, Pershing Square Capital Management founder.

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Since then, they have acquired companies such as Hertz Global Holdings Inc., Burger King, and Red Roof Inn.

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