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The sudden and rapid use of Special Purpose Acquisition Companies (SPACs) to launch privately-held companies into publicly-listed entities is a minor phenomenon of our time and some players in clean energy industries including energy storage, have been quick to join the wave. It can work out really well, but it can also all end in tears: so choose wisely, says Charles Lesser, partner at Apricum - The Cleantech Advisory.
This year is already the year of the SPAC: they are awash with capital and eyeing the energy transition. With many clients being approached about SPAC mergers, Apricum sets out how they work and whom they suit.