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What Is A SPAC?

WeWork, the flexible office-sharing startup, is making another attempt to go public after its initial effort in 2019 failed. This time, WeWork has merged with a special-purpose acquisition company, known as a SPAC, in a deal to take WeWork public.

Mike Regan, senior editor for Bloomberg News, explains SPACs and how this deal is supposed to work.

This article was originally published on WBUR.org.

Copyright 2021 NPR. To see more, visit https://www.npr.org.