A new investment vehicle recently invaded markets, having a profound effect on traditional investing. A SPAC, or Special Purpose Acquisition Company, has drawn enormous attention in recent months. SPACs are becoming extremely popular with nearly everyone who has large sums of money and willing to invest. From NBA All-Star Shaquille O’Neal, to Republican giant Paul Ryan, to world-renown investor Bill Ackman, SPACs are a must have. According to Peter Atwater, founder of research firm Financial Insyghts, “If you don’t have your own SPAC, you’re nobody” (Ramkumar and Farrell, 2021). These new investment vehicles have uprooted traditional capital raising.