Hedge fund titan Bill Ackman on Wednesday raised $4 billion in an IPO on the New York Stock Exchange. But it wasn’t for a company, or even for the firm that controls his hedge funds. It was for something called a SPAC, and it was the largest SPAC IPO of all time.
Axios Re:Cap digs into Wall Street's latest craze with Ackman, who was ahead of his time in 2012 when he used a SPAC to bring Burger King public.