SPACs, also known as a special purpose acquisition company or blank check company, are exploding. In 2020, there were 248 SPACs, which was four times more than the previous high of 59 in 2019, according to Spacinsider.com. Already in 2021, there have been 189 SPACs, as of press time.
One of the primary beneficiaries has been proptech.
For instance, in February, real estate tech company Matterport announced it was being taken public via a special purpose acquisition company by Gores Holdings VI in a $2.9 billion deal.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
