How the rocket business launched a wave of blank check acquisitions

How the rocket business launched a wave of blank check acquisitions

In 2019, Virgin Galactic took the first small step for a space company—and a giant leap for global finance. It became a publicly traded company through a merger with a special purpose acquisition company, or SPAC. In 2019, there were 87 SPAC transactions, with an average value of about $390 million, according to the financial data firm Refinitiv.