Who Should be on The Board of a SPAC?
Special Purpose Acquisition Companies (SPACs) are a great way to create competitive companies and take private assets into the public markets. A SPAC needs to have great minds on its board of directors, as the process of creating, funding, and buying assets with a SPAC is nuanced.
A SPAC is created to buy assets.
While this may seem like a simple enough proposition, the process by which a SPAC is spotting the right acquisition targets, closing the deal with the target company shareholders and merging the acquisition target company into the SPAC needs to be overseen by professionals who have a deep knowledge of public companies and perhaps SPACs, and also the acquisition target sector in which the SPAC will make purchases.
Whenever a SPAC is created, the board of the company is a vital consideration and crucial for successful acquisitions. Let’s have a look at some of the things that should be considered when choosing the board of a SPAC.