Long Island Business News spoke with SEC Services Leader David Bukzin about the market's new appetite for special purpose acquisition corporations, or SPACs.
Long Island Business News
By Claude Solnik
“We’ve done many SPAC IPOs over the last couple of years,” David Bukzin, partner in charge of the SEC practice group at Marcum, said. “Usually the IPO will be built around a team with certain expertise…Money is put in a trust fund for the benefit of the shareholders who don’t want to stay in the deal,” Bukzin said. “Management has a set time to find a deal. Once they announce a deal, the shareholders get to vote whether to stay in the deal or get their money back.”