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Spock: The platform that brought millions to Bennett - Walla! Of money

2021-06-10T16:47:22.429Z

The exciting financial news of the week was the exit of Naftali Bennett, who earned about $ 5 million following the IPO of the fintech company Pioneer, in which he invested a few years ago. As part of the report, the term "spock" reappeared. What's Spock? Securities Authority experts explain



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Spock: The platform that brought millions to Bennett

The exciting financial news of the week was the exit of Naftali Bennett, who earned about $ 5 million following the IPO of the fintech company Pioneer, in which he invested a few years ago.

As part of the report, the term "spock" reappeared.

What's Spock?

Securities Authority experts explain

Tags

  • Naftali Bennett

  • Hi-Tech

  • Exit

  • Prime Minister

Walla!

Of money

Wednesday, 09 June 2021, 17:02 Updated: Thursday, 10 June 2021, 08:34

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Just before his inauguration as prime minister, fate summoned Naftali Bennett to another "small" landing: on Monday we learned that Bennett got richer in the amount of about $ 5 million, as a result of the IPO of the Pioneer company, in which he invested a few years ago. The company went public in the US at a value of over $ 3 billion, and Bennett can realize the share and enjoy handsome profits (Recall that Bennett is a "graduate" of several previous exits).



As part of the news coverage went up the term "spake", but what does it mean?


To learn more,

we turned to the Securities Authority's experts and

asked for an easy




- to -

understand explanation.

SPAC - Special Purpose Acquisition Company



Every week we hear about another Israeli company that has decided to raise capital and issue shares using the SPAC device.



Spock is a dedicated procurement company that raises money from the public by issuing shares and is listed on the stock exchange - when at the time it issues, it has no commercial activity.

That is, the company does not manufacture or develop or build any product.



The money raised by the company at the time of the IPO will be used by the SPAC to locate a potential investment in a company called a target company, which has a manufacturing or development activity and is the one that will be merged into the SPAC.

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Yair Lapid listens to Naftali Bennett.

Can get tips from an investor who has already experienced several exits, each worth millions (Photo: Knesset Spokeswoman, screenshot)

High risk investment

Investing in SPAC involves significant risks for the investing public, since it is characterized as a very high risk investment.

An investment decision in a company of this type is mainly based on the reputation and ability of the entrepreneurs to locate a potential investment in a target company and execute a transaction to merge its activities in SPAC.



The information about the activity in which the money will be invested does not exist and is not disclosed to the investor - prior to the issuance.

Therefore, the Securities Authority has formulated a list of principles and threshold conditions to bring together the identity of the interests of the developer and the investors, thus strengthening the mechanisms for protecting the investing public.



Bennett is not alone: ​​Anyone who examines the stock market data in the world will find Oded an interesting detail: In the United States this year there were more Spock issues than any other issue.

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Source: walla

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