Former House Speaker Paul Ryan joins 'blank-check' company craze with $300 million IPO, report says
. He becomes the latest high-profile individual to join the newly popular investing trend.
SPACs raise cash in an IPO and deploy the funds in a merger. The vehicles are often used as an alternative to traditional IPOs for taking private firms public. The"blank-check" company aims to raise about $300 million in an initial public offering and trade with the ticker ENPC, sources familiar with the plans told The Journal. That sum is subject to change depending on demand, the sources said.
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