businessmen

Alex Rodriguez and Billionaire Partner Invest $20 Million in Minnesota Timberwolves and Suffer $300 Million Loss in SPAC Deal: EssentiallySports

Source Node: https://zephyrnet.com/alex-rodriguez-braves-300-million-spac-loss-and-minnesota-timberwolves-issues-to-raise-20-million-for-a-new-venture-alongside-billionaire-partner-essentiallysports/
Time Stamp: March 2, 2023 1:10 AM - Modified On: March 2, 2023 - Published By:
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Published by Plato

Alex Rodriguez and his billionaire partner, Marc Lore, have recently made headlines due to their $20 million investment in the Minnesota Timberwolves and their subsequent $300 million loss in a Special Purpose Acquisition Company (SPAC) deal. This has been a major financial setback for the two businessmen, but it also serves as a cautionary tale for those considering investing in SPACs.A SPAC is a publicly traded shell company that is created to raise capital through an initial public offering (IPO). The company then uses the money to acquire or merge