Special-purpose acquisition companies (SPACs) are all the rage right now in the US. You might even have invested in some of them without knowing that it was a SPAC. That’s not good. Give me 3 minutes and I hope to level up your understanding about SPACs by the end of this article. #1 What are SPACs and how do they work Let’s say I harbour the ambition to acquire a fintech company because I believe it has a great future and disruption is unfolding soon. But I will need $500m and I don’t have enough money to pull it off. Borrowing is not possible since the fintech company isn’t making any profits and doesn’t have much assets to collaterize. Given that I have an audience through Dr Wealth, I think I can raise money to fund this acquisition via an Initial Public Offering (IPO). Instead of listing Dr Wealth, I...