The Capital Note: SPACs & Office Space

Welcome to the Capital Note, a newsletter (coming soon) about finance and economics. On the menu today: SPACs, Office Space, and Antique Bonds, plus some links from around the Web.

SPACs
Special purpose acquisition companies (SPACs) are all the rage. 51 SPAC offerings have been completed in 2020 — a 145 percent increase from the same period in 2019. Electric-truck company Nikola and spaceflight company Virgin Galactic both went public this year via SPACs, and Bill Ackman — enjoying the limelight after a stunningly profitable short trade early in the COVID crisis — has launched his own “unicorn mating dance,” his term for the process of finding a large tech company to take public with $4 billion in newly raised funds.

A SPAC represents a “blank check” for a sponsor, who raises capital in the public equity markets and uses it to merge with a private company.

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Beyond Meat signs deal to open production facility near Shanghai

(Reuters) – Beyond Meat Inc <BYND.O> said on Tuesday it had signed a deal to open a production facility near the business hub of Shanghai, as the plant-based meat products maker ramps up its focus on the rapidly growing Chinese market.

Beyond Meat (Jiaxing) Food, a unit of the company, signed a pact with Jiaxing Economic and Technological Development Zone to design and develop manufacturing facilities in the region, it said.

Trial production is expected to begin within months and reach full output in early 2021, the company said, as it looks to expand into Asia, where alternative meat products are yet to experience the popularity boom seen in the United States and parts of Europe.

“Beyond Meat Inc will be the first multinational company focused solely on plant-based meat production to bring its own major production facility into China,” the company said in its statement.

The move comes

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I Drank The Rock’s Tequila And Boozy Slushies At The New Taste Of Epcot International Food And Wine Festival

Photo credit: Megan duBois
Photo credit: Megan duBois

From Delish

One of the main reasons I go to Disney, like many of you, is for the food—and the best of it can always be found at Epcot (hello, beautiful pastries in the France pavilion!). Trust me: I’m a theme park journalist.

Fall is usually when the park comes alive with its Epcot International Food and Wine Festival, which is a must-do for a lot of people, including me. But this year’s festival got an overhaul, thanks to the coronavirus pandemic—and I reserved my spot the first day it opened to see how the new Taste of Epcot International Food and Wine Festival would play out (and tell you, of course).

The first thing I should note? This is the longest Epcot festival ever. It started July 15 and doesn’t have a specific end date; Disney has only said that it will

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Three International Talents Who Made It in Milan

Considered by many a very conservative city, Milan is becoming more and more international thanks to the creativity, diverse background and business acumen of individuals from across the globe who found a home under the Duomo cathedral. From food to flower design and architecture, here are the stories of three personalities who built names for themselves in Milan.

 

CLAUDIO LIU

When Claudio Liu opened his first restaurant, called Iyo, in 2007, he was only 23.

For those familiar with Milan’s food scene, Iyo offers the city’s best Japanese cuisine, a supremacy that got an official stamp in 2014 when the restaurant was awarded a Michelin star.

“It has been such a surprise, we were definitely not looking for that achievement. It took a while to digest it,” said Liu, now 38. Born in China to Chinese parents, he was raised close to Reggio Emilia and in 2003 moved with the

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