Former Speaker of the House Paul Ryan to chair blank check company

1484
SHARE

The Journal also reported that the founders will have a three-year waiting period to hold their shares before they can be released to sell. This differs from the one-year freeze that most SPACs set.

The firm’s underwriter is Evercore. They will be receiving 1% of the company size in fees, about half what most underwriters charge.

A new way to invest

Ryan is the most recent high-profile person to go “all-in” with this investment trend.  

2020 is a record-breaking year for SPACs. Over 75 new special purpose acquisition companies have collectively raised over $30 billion. In all of 2019, $13.6 billion was raised from a total of 59 SPAC’s.

————————————————–

Have a story you want USA Herald to cover? Submit a tip here and if we think it’s newsworthy, we’ll follow up on it.

Want guaranteed coverage? We also offer contract journalism here.  Just be sure you’re comfortable giving up editorial control because our journalists are dogged and will follow the story through to the conclusion. The story will be published to our exacting standards, without regard for your preferred slant.