Drew Bernstein, co-chairman of MBP, appeared on CGTN’s Global Business to discuss the SPAC Boom
CGTN’s Global Business
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.”