Many people are relatively familiar with a company IPO, or initial public offering, whereby a private company offers the public an opportunity to purchase shares of its company stock. Far fewer individuals are familiar with SPACs — special purpose acquisition companies — though they have become more popular in the last few years. SPACs continue to gain in popularity as a quicker and often less risky way for a private company to go public. Particularly in 2020, many companies have chosen to go public through SPACs as the IPO market has become increasingly unpredictable due to the coronavirus pandemic.

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