It's real and it's SPACtacular.
From Reuters:
Y Combinator’s Sam Altman is joining forces with veteran Wall Street dealmaker Michael Klein to launch a blank-check firm that is seeking to raise up to $1 billion, according to a regulatory filing on Monday.
Altman, who will also be designated as the co-founder of AltC Acquisition Corp, continues to be chairman at Silicon Valley startup accelerator Y Combinator, which over the years has influenced the creation of dozens of leading startups including Airbnb and Dropbox Inc.
Altman’s blockbuster tie-up with Klein comes as dealmaking through special purpose acquisition companies (SPACs) continues to scale new highs and record volumes of deals are getting signed.
According to data from Dealogic, SPACs have already raised about $79 billion though IPOs this year and are poised to comfortably overtake last year’s tally of $82 billion....
....MUCH MORE
Since SPACs are, at their core simply a bet on the skill of the organizers to evaluate private companies, if we did new issues this is one I'd be interested in.
