Thanks for another great read and a great refresher on understanding IPO's and SPAC IPO's. SPAC's have always reminded me of the Search Fund model from Stanford. This sentence popped out at me, which I enjoyed:
"probably characterize the 40-year period from 1982-2021 as largely one giant bull market, driven by the massive secular decline in interest rates (from 20% in the early 1980s to 0% for much of the past decade plus)".
And this sentence on SPAC's caught me eye as well:
"or as a streamlined way for the target company to go public (bypassing certain SEC IPO regulations), or both. Clever, no?"
These seem like spot on interpretations. Job well done sir!
Thanks for another great read and a great refresher on understanding IPO's and SPAC IPO's. SPAC's have always reminded me of the Search Fund model from Stanford. This sentence popped out at me, which I enjoyed:
"probably characterize the 40-year period from 1982-2021 as largely one giant bull market, driven by the massive secular decline in interest rates (from 20% in the early 1980s to 0% for much of the past decade plus)".
And this sentence on SPAC's caught me eye as well:
"or as a streamlined way for the target company to go public (bypassing certain SEC IPO regulations), or both. Clever, no?"
These seem like spot on interpretations. Job well done sir!