Dell, Singer, Facebook Co-Founder Latest to Join SPAC Bandwagon
- Baker’s dozen added Friday to blank-check company spree
- SPACs dominate IPOs, are lined up to raise $40 billion more
This article is for subscribers only.
Michael Dell, activist investor Paul Singer, Facebook Inc. co-founder Eduardo Saverin and former Xerox Corp. chief Ursula Burns have all joined the blank-check parade on a single day.
Singer’s Elliott Management Corp., doubling down, filed for two new special purpose acquisition companies, or SPACs. In all, at least 13 of the blank-check companies filed Friday for U.S. initial public offerings, seeking to raise a combined total of more than $4.5 billion.