The man with more SPACs than anyone
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MAUREEN FARRELL
, The Wall Street Journal
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Alec Gores has built a SPAC machine.
The billionaire investor, who first tried his hand at the unconventional reverse-merger IPO process in 2015, has watched the market for SPACs reach a fever pitch over the last two years. As the market swelled, he became a serial SPAC backer. He has methodically created 13 special-purpose acquisition companies, more than any other single investor, according to data provider SPACInsider.
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. 04 May 2021
Mr. Gores is a veteran when measured in SPAC years. He believes in the process, which had been criticized as an avenue to take sketchy companies public. His firm, Gores Group, opens its own checkbook for every deal unlike many other SPAC investors and sometimes even lands deals despite underbidding his competitors, he says.
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