Baron Funds Portfolio Manager Shares SPAC Investing Checklist

Chinese regulators made the move over concerns about the risks associated with blank-check firms, Reuters reports.

"The size of an IPO, whether it’s a traditional IPO or a SPAC, is absolutely a proxy for quality. And the size of the average SPAC has been rising. The size of the average IPO has been falling,” the CEO and CIO of Morgan Creek Capital Management told CNBC.

The SPAC unveiled plans earlier this year to combine with London Innovation Underwriters and raise additional funds to deploy in the Lloyd's of London insurance market.

The businessman, Anton Postolnikov, is the owner of a Caribbean bank that caters to the porn industry and also reportedly loaned $8 million to Trump’s media company.