February 24, 2021
Investors interested in a disruptive growth opportunity can consider a specialized ETF strategy that targets Special Purpose Acquisition Companies, or SPACs.
In the recent webcast,
A New ETF Strategy for the SPAC Surge, Jennie Dong, Head of SPACs, NYSE, explained that SPACs raise capital via an IPO with the purpose of using proceeds to acquire an operating business.
SPACs go public through the typical IPO process. The sponsor is typically an institution or seasoned industry executive and generally focuses on an industry or geography. The full cash raised in IPO is placed in a trust account for the acquisition. If no acquisition takes place, the SPAC will liquidate and return funds to IPO investors.
Read Article
OXFORD Selectmen voted unanimously Thursday night to amend a revised marijuana ordinance, which puts no limits on the number of dispensaries and allows retail businesses, but prohibits social clubs.
A special board meeting was scheduled for 6 p.m. Feb. 24 to discuss the amendments, as well as proposed amendments to the Zoning Ordinance to allow and regulate medical and adult-use marijuana facilities.
Selectmen also scheduled a special town meeting for 6 p.m. March 4 for residents to weigh on the issues. It will be held at the Oxford Elementary School on Pleasant Street.
The vote Thursday night followed a public hearing where more than a dozen residents and business owners spoke on the prohibition and repeal of adult-use marijuana and the proposed ordinance changes.
The SPAC and New Issue ETF (SPCX) Reaches $137 Million AUM
First and Only SPAC ETF to Break $100 Million Asset Barrier; SPCX Options Now Available
News provided by
Share this article
Share this article
NEW YORK, Feb. 4, 2021 /PRNewswire/ The SPAC and New Issue ETF (NYSE: SPCX) announced today that it is the first and only SPAC ETF to garner over $100 million in assets under management (AUM). As of the close of business on February 3, AUM stood at $137.3 million, having achieved the $100mm mark in just 27 trading days. SPCX is the first actively-managed ETF that gives investors direct exposure to the disruptive capital markets theme of Special Purpose Acquisition Companies (SPACs).
SPAC Rush Leads Active ETF to Go All In on Blank-Check Firms
Bloomberg 1/21/2021 Michael Bellusci
(Bloomberg) The world’s first actively managed exchange-traded fund that invests in blank-check companies is doubling down on the red-hot SPAC market at the expense of its other strategy, merger arbitrage.
Popular Searches
The Accelerate Arbitrage Fund was launched in April by Julian Klymochko, the founder and chief executive of Calgary-based Accelerate Financial Technologies. The firm invests in special purpose acquisition companies, or SPACs, before they’ve announced deals, and also incorporates merger arbitrage, which aims to capitalize on the spread between a target’s stock price and the offer price before a deal closes.