Chamath Palihapitiya Is Launching a Brand-New SPAC. Is This 2021 All Over Again, or Is This Time Different?

During the 2020-2021 period, hundreds of companies entered the public markets via special purpose acquisition companies, or SPACs. And no SPAC sponsor was more prominent than Chamath Palihapitiya. Well, more than three years since launching his most recent blank-check company, Palihapitiya has filed for a new one. He intends to raise $250 million to form the American Exceptionalism Acquisition Corp. A, and while there is currently no definitive timeline for its initial piblic offering (IPO), it will trade under ticker symbol AEXA.In the SPAC's Securities and Exchange Commission (SEC) filing, Palihapitiya correctly points out that there are over 700 private companies with a $1 billion valuation or higher, and that there are 2,000 fewer public companies in the United States compared with the 1990s. And he's banking on the fact that there's a lot of pent-up demand for companies that don't want to use the traditional IPO process.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool