Friday December 1, 2023  Barron's It's Shopping Season for Bargain-Priced Closed-End Funds

Tuesday January 3, 2023  Family Wealth Report There's Still SPAC Money To Be Made After Market Cools

Thursday September 15, 2022  Forbes Social Impact ETF Steeped In Golf Supports Military Families

Friday June 11, 2021  Bloomberg Bloomberg Radio: Interview with Patrick Galley on SPACs (MP3 file)

Wednesday June 2, 2021  CNBC A SPAC frenzy earlier this year could lead to riskier deals. Here's why

Tuesday April 6, 2021  Crunchbase SPACs Bring More Opportunity - And Competition - To The Private Equity World

Tuesday March 23, 2021  Bloomberg We're seeing a 'SPAC-off' because there are so many out there: RiverNorth's CEO

Thursday December 10, 2020  Barron's Barron's: 8 Discounted Closed-End Funds That Have Raised Their Payouts This Year

Monday December 7, 2020  Euromoney Euromoney: After a Wild Year, SPACs are Growing Up

Monday November 16, 2020  Alternatives Watch Alternatives Watch: One Firm's New, Long-term Approach to SPACs

Definitions

• Special Purpose Acquisition Company (SPAC) is a company with no commercial operations that is formed strictly to raise capital through an initial public offering (IPO) for the purpose of acquiring an existing company.
• Warrants are a derivative that give the right, but not the obligation, to buy or sell a security - most commonly an equity - at a certain price before expiration.
• A Business Development Company (BDC) is an organization that invests in small- and medium-sized companies as well as distressed companies. A BDC helps the small- and medium-sized firms grow in the initial stages of their development.
• Tax loss selling is the selling of securities at a loss to offset a capital gains tax liability.
• The IPOX® SPAC Index is designed to track the aftermarket performance of Special Purpose Acquisition Companies (SPACs) which pursued initial public offerings (IPO) in the U.S. The index is an applied market-cap weighted index measuring the performance of the top publicly traded SPACs. The index is actively reconstituted and adjusted. You can not invest directly in an index.
• Special Purpose Acquisition Rights Company (SPARC), is a new investment vehicle that unlike a traditional SPAC, will only collect cash from investors once it's identified a target and published a prospectus. At that point investors can either buy in or trade their "rights".

Risk Information

SPACs are collective investment structures that pool capital in order to seek potential acquisition opportunities. SPACs and similar entities, often referred to as “blank check” companies, have no operating history or ongoing business other than to seek a potential acquisition. Certain SPACs may seek acquisitions only in limited industries or regions, which may increase the volatility of their prices. Investments in SPACs may be illiquid and/or be subject to restrictions on resale. To the extent the SPAC is invested in cash or similar securities, this may impact a fund’s ability to meet its investment objective.