Two underwriters in Bill Ackman's SPAC discuss his deal and the boom of 'blank check' companies
Special Purpose Acquisition Companies or "SPACs" are increasingly popular and are on track to eclipse last year's deals. Investors put money into SPACs without knowing when or how the capital will will deployed. The ultimate goal of a SPAC is to acquire a private company, therefore converting it into a public one. Now billionaire investor Bill Ackman is taking his SPAC public. James Reynolds, CEO and co-founder of Loop Capital Markets, and Suzanne Shank, CEO of Siebert Williams Shank, are two underwriters in the deal. They join "Squawk Box" to discuss.