Starboard Joins the SPAC Pack

The activist firm is the latest in a growing number of hedge funds seeking money for a blank-check company.

Jeff Smith, CEO of Starboard. (David Paul Morris/Bloomberg)

Jeff Smith, CEO of Starboard.

(David Paul Morris/Bloomberg)

Jeffrey Smith’s Starboard Value, the hedge fund firm best known for its activism, is seeking $300 million for its first special purpose acquisition company.

The SPAC, Starboard Value Acquisition Corp., was created to do an acquisition in a sector that could include technology, health care, consumer, industrials or hospitality and entertainment, according to a prospectus filed August 18 with the Securities and Exchange Commission.

To continue reading, subscribe now to Premium Journalism. Already a subscriber? login.

Related