SPAC Weekly 8/31: Special Purpose Acquisition Corps 101

SPAC Weekly 8/31: Special Purpose Acquisition Corps 101 by Troy Marchand, Foundry Capital

The third edition of SPAC Weekly, an offering of Valuewalk.com, for the week of August 31^st.

New SPAC Announced:

First up this week is a newly announced SPAC, which filed on 9/17/2015. Pacific Special Acquisition Corp (PAACU) announced that it completed an IPO of $50 million. The Company is a British Virgin Islands exempted company, operating out of The People’s Republic of China. EarlyBirdCapital is the sole underwriter on the deal. I am always skeptical about Chinese securities, but that has no bearing on this deal directly.

Terms of the new unit will consist of one common share, one right to own one-tenth of a...