A Special Purpose Acquisition Company (SPAC) is a “blank check” shell company created to raise funds through an IPO to finance a merger or acquisition. In 2020 and 2021, SPAC activity surged dramatically, raising over $83B across 248 IPOs in 2020 and $160B across 613 IPOs in 2021. Healthcare-focused SPACs alone contributed $11.1B in 2020…
