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The CEO who made one of Silicon Valley’s worst acquisitions wants a $400 million blank check

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The blank-check bonanza has already reached mind-boggling heights, but now we seem to have jumped the shark.

A preliminary prospectus was filed last week by a company called Burgundy Technology Acquisition Corp. seeking to raise $400 million for a special-purpose acquisition company, or SPAC, an entity that seeks to raise money to acquire an unnamed company that is also known as a “blank check” company. Behind Burgundy is a familiar face for tech investors, though one that hasn’t been seen in a few years: former Hewlett-Packard Co. and SAP AG
SAP,
-0.50%

Chief Executive Leo Apotheker, who will be co-CEO of Burgundy along with former SAP colleague James Mackey.



Source marketwatch.com

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