March 18, 2021
Drew Bernstein, co-chairman of MBP, appeared on CGTN’s Global Business to discuss the SPAC Boom
CGTN’s Global Business
Excerpt:
Special purpose acquisition companies (SPACs) become one of the hottest trends on Wall Street, as celebrities fuel interest in blank-check companies. Since the number of unicorn companies has increased, over 400 blank-check companies on the market seek private firms to acquire and take public.
“SPACs right now are not going to Asia, the plane has already arrived. It’s a new competitive product. There are benefits to using it now, they have money and you don’t have to raise it, and that’s attractive.”