Goldman Sachs to Float a SPAC, Wineberg and Whitehead add 15th Business Principle: "To Err is Human, to SPAC Devine"

The rumors out of 55 Broad kept coming, but Lloyd, I didn't think this would actually happen. A related question: Will Goldman Sachs somehow find a way to under-price a SPAC to produce a first day pop? Er...

Anyhow, after trashing SPACs as "harmful to investors" (true?), it seems as though they've miraculously decided that -- with a few tweaks -- no further harm will be done under their watchful eyes. Is that my breath that's bated?

Here's the snip from the WSJ:

"Goldman Sachs Group, Inc., the only major U.S. investment bank that has steered clear of underwriting so-called blank-check IPOs, is preparing to enter the business -- but with a twist on the typical structure of the deal, people familiar with the firm's plans say. Goldman for the past year has spurned such deals -- also known as special-purpose acquisition companies, or SPACs -- saying the deal structure wasn't beneficial for investors..."

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