Gary Cohn, ex-Trump adviser joins $600 million blank-check company IPO

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SPACs have emerged in 2020 as a streamlined investor tool. And are wildly popular on Wall Street right now.

Richard Branson’s space tourism company, Virgin Galactic Holdings, Inc., and fantasy sports and online betting DraftKings Inc. both had SPAC IPOs. 

Well-known dealmakers Bill Ackerman, Michael Klein, and Chamath Palihapitiya all sponsored SPAC IPO’s this year.

A SPAC is a shell company that raises money through an IPO to acquire an unspecified company to take public. There is usually a 2-year time frame.

The NYSE trading symbol is CRHC.U. Credit Suisse is the only bookrunner on the deal.

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