Blank-check company IPOs moving ahead despite U.S. government shutdown
Reuters | January 23, 2019
A corner of the market for initial public offerings is evading the freeze on stock market flotations inflicted by the U.S. government shutdown, putting the spotlight on listings that usually stay under most investors’ radar. “Blank-check” companies, which launch IPOs to raise money for acquisitions, are taking advantage of their unique structure to proceed without the approval of the Securities and Exchange Commission, which has been paralyzed by the longest government shutdown in U.S. history.