Is Third Time the Charm for this FinTech Acquisition Company?
FinTech Acquisition III (NASDAQ: FTAC) is a blank check company created for the purpose of acquiring a private financial technology business. Blank check companies are also known as special purpose acquisition companies (SPACs) and have been used as a backdoor way for a company to go public.
There is some valid criticism that, by avoiding a traditional IPO process, SPAC offerings are riskier because they do not face the full rigor and scrutiny from bankers, investors, and auditors. However, there is good reason to believe that FinTech Acquisition III can deliver strong results for investors.
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Source Fool.com
