Former House Speaker Paul Ryan Joins Special Purpose Acquisition Company

WSJ reports that fmr. House Speaker Paul Ryan will serve as chairman for a special-purpose acquisition company.

Ryan is the latest high-profile person to join the newly popular investing trend.

The SPAC is named Executive Network Partnering Corp.

It plans to raise about $300 million in an initial public offering and trade under the ticker ENPC, according to The Journal.

According to Business Insider, SPACs raise cash in an IPO and distribute the funds in a merger.