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SPACs sound arcane, but make buckets of money for Indy investors
FREE NEWSLETTERS Novus Capital Corp. agreed to buy Kentucky-based AppHarvest in September. The indoor-farming company lost $8.1 million in the first nine months of 2020 but reached a milestone this week when it began shipping its first harvest of beefsteak tomatoes to grocers. (AP photo)
A nontraditional way to take companies public is booming on Wall Street and making bucketsful of money for some Indianapolis businesspeople engineering the deals.
That certainly applies to the roughly 20 founders of Indianapolis-based Novus Capital Corp., including Chairman Bob Laikin, who collectively have paper profits of $122 million since creating their business in March.