Special purpose acquisition companies (SPACs) have been in the news—and for good reason. They’re an increasingly popular alternative to the traditional IPO roadshow and a potentially lucrative outlet for pent-up cash reserves among private equity investors. In this episode, Mike Dziczkowski, Jeff Bergner, and David Oberst, M&A transaction service partners with Deloitte and Touche LLP, break down the history of SPACs.