The rise in SPACs is leading to improved terms for targeted companies and an overall lower cost of capital, as company underpricing in traditional IPOs worsens (Bill Gurley/Above the Crowd)

Bill Gurley / Above the Crowd:
The rise in SPACs is leading to improved terms for targeted companies and an overall lower cost of capital, as company underpricing in traditional IPOs worsens  —  If you are looking past or through Covid — and why not, all of Wall Street is — the topic du jour in Silicon Valley is Special Purpose Acquisition Companies, or SPACs.