SPAC Week II Podcast: Cannabis SPACs

That’s on top of the estimated $352 million they’ve already lost this year, Bloomberg Law reports.

Neil Jacobson calls himself the best salesman in the music business. Now, the salesman is looking to buy. Earlier this year, Jacobson founded Music Acquisition Corp. (MAC) — billed as the music industry’s first SPAC, Rolling Stone reports.

Although SPACs typically raise $10 per share from investors in their IPOs, by the time the median SPAC merges with a target, it holds just $6.67 in cash for each outstanding share, according to a study published by Stanford Law School.