Industry insiders say likely logistics companies and e-commerce operators would be likely acquisition targets.
Retail REIT Simon Property Group, the country’s largest operator of regional malls, is riding the SPAC wave. We don’t know yet where that wave will take the company, but industry insiders offer a number of guesses.
On Jan. 29, Indianapolis-based Simon filed paperwork with the U.S. Securities and Exchange Commission (SEC) to form a special purpose acquisition company, or SPAC. The SPAC, called Simon Property Group Acquisition Holdings Inc., seeks to raise at least $300 million through an IPO.
A “blank check” SPAC is a shell company with no operations that’s set up for the sole purpose of raising cash via an IPO and eventually acquiring an existing company. It’s considered a less costly, less complicated fundraising alternative to a traditional IPO.