Tasty Spacs whet banks' appetites

David Rothnie

October 15, 2020 12:00 pm

VirginGalactic_PA_575x375_15October2020 — April 5, 2018 - Mojave, California, U.S. - Virgin Galactic's second piloted suborbital spaceship made its first rocket-powered test flight, three-and-a-half years after the loss of an earlier model in an accident that killed one test pilot. Designed to ferry paying space tourists and research payloads to edge of space, Virgin Galactic's SpaceShipTwo vehicle has been in development more than a decade. The winged vehicle, named VSS Unity, dropped from the belly of Virgin Galactic's carrier aircraft, VMS Eve, and fired its hybrid rocket motor for 30 seconds, accelerating to a top speed of Mach 1.87, nearly twice the speed of sound. (Credit Image: © Gene Blevins via ZUMA Wire) | Gene Blevins/Zuma Press/PA Images

Despite a year of turmoil, many bankers have a spring in their step, writes David Rothnie. They are rushing to get involved in the boom in special purpose acquisition companies (Spacs).

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David Rothnie