SPECIAL purpose acquisition companies (Spacs) have gained a reputation for overvaluing hyped-up startups at the point of listing, while being rather value-destructive for shareholders who stick with the process.
Yet, AvePoint chief executive Jiang Tianyi believes there is still a place for the instrument.
In his opinion, Spacs provides startups with an alternative form of listing which prioritises the company’s interests better than that of a traditional initial public offering (IPO).
Jiang would know. AvePoint – a data management solutions provider that provides digital solutions – was listed on the Nasdaq in July 2021 via a business combination with Apex Technology Acquisition Corporation,…