Ex-Gap CEO Art Peck launches $200M SPAC

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Our pack is launching a two hundred million dollars back. Now if you don't know elements of that senate worry gonna explain it to you. Because i know a little complex i. Let's talk about art. Pack he was the former. Ceo of gap each he led gap inc strategy. And the mid two thousand. He stepped down as ceo. Twenty nineteen and it was a big deal when he did. I remember being very surprised that day in the newsroom. What is happening also. A reminder of what a spec is it stands for special purpose acquisition company. Its nickname is a blank check company. It is a shell corporation. They don't have commercial operations. They don't sell anything that don't have products. Instead they raise money through an ipo for the sole purpose of acquiring other companies so when a spat goes public people. Buy into it. But they don't know what they're buying into because it's not announced ahead of time they just like buying you at. That's why it's called a blank check company giving money and they're like we don't know what's going to happen to this as a lot of trust i mean it sounds a little sketchy doesn't i mean it does 'cause like wouldn't you want to know what your investment is before you invest. I mean i want to know if i spend money on a soda much less like a company right. Where is my money going. These are what specs are. They've been around for a long time but the past two years there's been a really big increase in and people are taking note so our pec wanted to get into this kind of like i liken it to him thinking he's the monopoly guy because what he wants to do is go around. The board and collect. Fashion

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