Former NYSE CFO: SPACs are ‘here to stay’

Markets are on the verge of “SPAC 2.0,” says Amy Butte, principal at Iron Spark and former CFO of the New York Stock Exchange. “SPACs are starting to disintermediate late-stage venture capital,” she told CNBC.

Despite their risks, which can include a compressed period in which private companies have to prepare for public reporting and regulatory oversight, SPACs are here to stay, Butte predicts, especially for start-ups who traditionally rely on several rounds of venture capital raises prior to filing an S-1. Watch the interview.

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