Goldman Sachs has just closed its second billion-dollar SPAC deal, with the nuclear measurement and analytics firm Mirion Technologies debuting on the NYSE today, CNBC reports.
The move marks Goldman’s attempt to alter the struggling SPAC market by aligning investor interests with insiders.
In most cases involving SPACs, the sponsors get 20% of the total shares outstanding following an IPO for free or at a steep discount. But in the case of Goldman’s deal with Miron — valuing the combined company at $2.6 billion — sponsors will only receive their money when shares rise more than 20%. Read more.
