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MI Rewind: Masterclass on SPACs w/ David Sherman
Millennial Investing - The Investor’s Podcast Network
The Problems With Alignment Ventures
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In SPACs, the sponsors typically get 20% of the value of the IPO if they do a deal. If it's a $200 million deal and it trades at $10 a share, they just made $40 million of value. So there is an alignment of interest problem. The companies that are selling went the best price. They're not interested in creating value, generally in a cheap price.
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