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SPAC insiders can make millions even when the company they take public struggles

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Y Combinator's Sam Altman teams up with Michael Klein to launch SPAC looking to raise $1 billion

Updated
Y Combinator s Sam Altman teams up with Michael Klein to launch SPAC looking to raise $1 billion
By Reuters Staff
2 Min Read
FILE PHOTO: Sam Altman, President of Y Combinator, speaks at the Wall Street Journal Digital Conference in Laguna Beach, California, U.S., October 18, 2017. REUTERS/Lucy Nicholson
(Reuters) - Y Combinator’s Sam Altman is joining forces with veteran Wall Street dealmaker Michael Klein to launch a blank-check firm that is seeking to raise up to $1 billion, according to a regulatory filing on Monday.
Altman, who will also be designated as the co-founder of AltC Acquisition Corp, continues to be chairman at Silicon Valley startup accelerator Y Combinator, which over the years has influenced the creation of dozens of leading startups including Airbnb and Dropbox Inc. ....

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Lucid dream deal turns Klein's $43 million investment into $3.3 billion windfall | WSAU News/Talk 550 AM · 99.9 FM

By Joshua Franklin (Reuters) - Veteran dealmaker Michael Klein and his partners have made a paper gain of nearly $3.3 billion on their $43 million per. ....

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US$43 mln investment turns into a US$3.3bil windfall

US$43 mln investment turns into a US$3.3bil windfall
thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.

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Lucid dream deal turns Klein's $43 million investment into $3.3 billion windfall

Veteran dealmaker Michael Klein and his partners have made a paper gain of nearly $3.3 billion on their $43 million personal investment in the blank-check acquisition firm they are merging with luxury electric vehicle startup Lucid Motors Inc, according to Reuters calculations. ....

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