SPACs vs Strategic Buyer
In an acquisition process with a SPAC and a strategic buyer, what do you see as the key differentiators that a strategic buyer can offer a start-up target that a SPAC can't and vice versa? For example
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Strategic buyer offers a full cash out at completion vs lock-ins under SPAC process.
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More risk in a SPAC process as SPAC still needs to get shareholder approval.
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Management team would need to spend more time in external investor relations if bought our by a SPAC compared with a strategic buyer where they can focus on growing the company.