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battle against climate change. Register at Bloomberg Live.com slash B Green Radio. Hello and welcome to another episode of the Odd Lots podcast I'm Joe Wiesenthal.

I'm Tracy Allaway.

And I'm Joe Wiesenthal.

Joe, you've heard of Spacks, right?

Yeah, I absolutely have heard of them.

You know, I've heard about them for a while, so-called blank check companies, but they've definitely

been one of the big stories of 2020, especially in the last couple of months.

Right and for those that don't know SPAC stands for a special purpose acquisition company

and they're basically these blank check firms shell companies that set out to buy other companies and make money off of them and it's a way for people to get involved with those companies

without the companies actually having to IPO in the public market.

Right and the interesting thing is that the SPAC is public right away. So the SPAC does the IPO.

It trades. And so of course there's always a lot of, you know, there's venture capital and

there's private equity. there's always companies that are

financial companies that are buying other companies but this is a situation in

which the buyer the shell goes public it raises money in that offering, and then it goes out in search of an actual real business to buy.

Right, so you're sort of pre-funding acquisitions and you don't know what they are going to be exactly.

Now the funny thing about SPACs is like I don't remember that much about them

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