IPOs out, SPACs in—but for how long?

Over 400 companies went public in 2020, an all-time record, and the traditional IPO route is fading as the increasingly popular SPACs (special purpose acquisition companies) take center stage, offering investors and businesses the potential opportunity to more quickly access a pile of capital in the hope of becoming the next Amazon. Everyone wins—or do they? To take us through the ins and outs of this rarefied space, our CIO Tony Roth is joined by Amy Butte, director for Bain Capital Specialty Finance who serves on numerous boards, including Tuscan Holdings Corporation, a SPAC launched in 2019, and is a former CFO of the New York Stock Exchange.