Charles Forelle

speaker

205 appearances 2 recordings 1 series first heard Jan 2022 last heard Oct 2022

Charles Forelle’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · From IRA to HSA: Decoding Personal Finance's Alphabet Soup · 18 Jan 2022 podcast

The HSA is a very good savings vehicle.

You can tell I'm quite excited about this one.

So an IPO is an initial public offering.

It's the first time, initial, that a company offers, sells shares to the public, P. So the company that had previously been private, the shares had previously been held by a small number of people, usually the founders, some insiders, and their venture capital investors.

That small group of people holds all the shares of the company.

And then one day they decide we're going to take some of those shares and we are going to sell them to the public.

So SPAC stands for Special Purpose Acquisition Company.

And you can think of it as an alternative path to going public instead of an IPO.

So here's how it might work.

You have a company that has no operations and has no business plan.

It's just a pile of money.

And the company is a very simple corporate shell that has a pile of money.

and some owners of that money, the shareholders.

There are special rules that allow you to list those companies on the stock exchange.

So those basically empty shell companies list publicly on a stock exchange.

Because they are relatively uncomplicated, it's just a pool of money.

It's not complex to draw up all of the documentation and do all the filings and everything, and it's fairly straightforward to have those go public.

And then what you do is you say, okay, we have this already public thing that's just a pot of money, and then we're going to use that public thing that is a pot of money to go buy something.

So the something that we buy is the private company, and then the private company becomes a subsidiary, becomes part of the shell company, and then they change the names.

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