We study characteristics of Specified Purpose Acquisition Companies (SPACs) and examine the performance of their … securities over time. We find that SPACs represent a fairly unique way to raise capital. The incentives of their founders … strongest reaction is observed among the investors holding warrants, while common stock holders tend to react very mildly. …

time period. SPACs existed in U.S capital markets since the 1920s. Their corporate structure has recently become debated in … Commission (SEC) in the late 1990s. SPACs were traded on American Stock Exchange and Overt the Counter Bulletin Board. Since 2008 …, SPACs are listed on New York Stock Exchange and National Association of Securities Dealers Automated Quotations. This paper …

This study documents the changes in the corporate design of modern Specified Purpose Acquisition Companies (SPACs) for … the years 2003–2012. Do institutional characteristics of SPACs determine the success of their merger outcomes? The paper … finds that SPACs significantly redesigned their structure in the period under observation. In addition, the probability of a …

We study characteristics of Specified Purpose Acquisition Companies (SPACs) and examine the performance of their … securities over time. We find that SPACs represent a fairly unique way to raise capital. The incentives of their founders … strongest reaction is observed among the investors holding warrants, while common stock holders tend to react very mildl …

This paper studies how institutional characteristics of Specified Purpose Acquisition Companies (SPACs) are related to … their post-merger survival. SPACs are unique financial firms that conduct the IPO with the solely purpose to use the … proceeds to acquire another private company. Paper finds that institutional characteristics of SPACs are important in …

In this study we examine how Specified Purpose Acquisition Companies (SPACs) were used as a financing tool for … companies in the shipping industry in period 2004-2011. We confirm that SPACs focused on acquisitions in the shipping industry … have similar characteristics as the population of SPACs that entered U.S financial markets in the same period. When their …

In this study we examine how Specified Purpose Acquisition Companies (SPACs) were used as a financing tool for … companies in the shipping industry in period 2004-2011. We confirm that SPACs focused on acquisitions in the shipping industry … have similar characteristics as the population of SPACs that entered U.S financial markets in the same period. When their …

This paper studies how institutional characteristics of Specified Purpose Acquisition Companies (SPACs) are related to … their post-merger survival. SPACs are unique financial firms that conduct the IPO with the solely purpose to use the … proceeds to acquire another private company. Paper finds that institutional characteristics of SPACs are important in …

In this study we examine how Specified Purpose Acquisition Companies (SPACs) were used as a financing tool for … companies in the shipping industry in period 2004-2011. We confirm that SPACs focused on acquisitions in the shipping industry … have similar characteristics as the population of SPACs that entered U.S financial markets in the same period. When their …

Specified Purpose Acquisition Companies (SPACs) are a special type of public companies currently available to investors … in financial markets. As an investment vehicle, modern SPACs are traced back to 18-th century England where blank checks … Commission classifies SPAC as a blank check company. This chapter reviews the academic and financial literatures about SPACs …