Goldman Plans to Underwrite SPAC Offerings

Offerings of blank check companies -- now upgraded to Special Purpose Acquisition Companies (SPACs) -- are hot, comprising almost 25% of all IPOs in the US last year.  Goldman Sachs is the last major securities firm that has declined to underwrite SPACs, saying that the typical 20% stake in acquired companies allotted to management is too generous and dilutive of public shareholders' interest.  Goldman plans to join the club, but reportedly will underwrite SPACs that cap the management's stake at 10%.  WSJ, Goldman to Join the SPAC Field.