Star quarterback Patrick Mahomes is involved in one. So is NBA legend Shaquille O'Neal. Singer-songwriter Ciara has one, as does Jay-Z and NFL star-turned activist Colin Kaepernick.
Even skateboarding legend Tony Hawk and Van Halen's Sammy Hagar have signed on. Special Purpose Acquisition Companies, or SPACs, have become the finance trend du jour, with hundreds launching IPOs and raising well north of $100 billion over the last year, according to Nasdaq.
The firms collect money in IPOs and seek out private companies in search of cash that they can take public. Many SPACs have brought on celebrities or other public figures as board members or executives, seeking an edge in raising money or enticing potential partners.
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