The Special purpose acquisition company (SPAC) has been around for decades but looked at with caution. Their latest popularity sprang from Sir Richard Branson ditching Saudi Arabia’s sovereign wealth fund after the journalist Jamal Khashoggi was murdered in a Saudi consulate. Branson wanted them to fund Virgin Galactic, but merged with Chamath Palihapitiya’s SPAC instead, receiving the SPAC pot of $674m and another $100m from Mr Palihapitiya. It went public valued at $2.2bn . . .
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