What is SPAC? #IWD special | Betsy Cohen, FinTech Masala
Betsy Cohen is the Chairman of FinTech Masala, a sponsor of numerous Special Purpose Acquisition Companies (SPACs) also known as blank-check companies - one of the hottest trends on Wall Street. Collectively these SPAC investment vehicles have raised more than $1.5 billion. After serving as Law Clerk to the Honorable John Biggs, Chief Judge of the U.S. Court of Appeals for the Third Circuit, she became the second female law professor on the East Coast (after Ruth Bader Ginsburg), teaching Antitrust Law and Government Regulation of Business at Rutgers University Law School. Using that knowledge capital, before age 30 Betsy had founded a shipping business in Hong Kong, a leasing company in Brazil, and a joint venture with a bank in Spain, and co-founded a Philadelphia law firm that specialised in representing financial institutions and industry clients in complex real estate and financial matters. In March 2021, FTAC Hera Acquisition Corp. (NASDAQ: HERAU), where she is a chairman announced pricing of its upsized IPO for gross proceeds to the company of $800,000,000. In this special episode for #internationalwomensday2021, Lloyd and Betsy discuss the ways SPAC can help companies to raise money. Later they delve into Betsy’s illustrious career in finance, leadership experience, outlining the importance of priorities, family life, and the mana of a great leader.