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Special purpose acquisitions companies (SPACs), also known as “blank check companies,” have exploded in popularity and people are still wondering exactly why.

Baden wübergMartin szydlowskiUniversity of minnesota twin citiesCarlson school of managementCarlson schoolUniversity of mannheimNorthwestern universityAssistant professor martin szydlowskiMinnesota carlson schoolManagement assistant professor martin szydlowskiInitial public offeringMinnesota twin citiesSaint paul