SPAC throwback: Cormorant launches $100 million blank check co

As a route to going public, the Special Purpose Acquisition Corporation (SPAC) is now much less popular than  it once was.

At its peak, over 100 healthcare companies in a year used SPACs to raise money and list on the stock market, but new accounting and tax rules soured the mood among financiers.

However, there is still interest in the method, which offers a direct and rapid route to market for small biotech companies dependent on raising significant amounts of capital.