The perception of SPACs has become clouded, particularly around sponsor compensation, forward guidance and retail investor participation. With American Exceptionalism Acquisition Corp.
The perception of SPACs has become clouded, particularly around sponsor compensation, forward guidance and retail investor participation. With American Exceptionalism Acquisition Corp.
A, the intent was to confront these concerns directly and implement improvements based on lessons learned
On alignment of interests, a SPAC has been priced with no warrants and sponsor compensation entirely tied to stock-price appreciation.
Sponsor founder shares vest only if the post-combination (or earlier change of control) stock price rises at least 50%, with three vesting tranches at 50%, 75% and 100% increases.
In other words, if the deal underperforms, no one benefits; if it succeeds, gains are shared