The Globe and Mail reports in its Saturday edition that Alignvest Management Corp., the operator of a special-purpose acquisition company, or SPAC, launched a $250-million initial public offering recently. The Globe's Andrew Willis writes that the new company is called Alignvest Acquisition II Corp. and it features a financial innovation meant to give it more firepower for staging a takeover. The new wrinkle is a $113-million commitment of capital to the SPAC from Alignvest's founders, cash that will be used alongside the $250-million expected from outside investors when the SPAC decides to make an acquisition. Founders include serial entrepreneur Reza Satchu, who is chief executive officer of the SPAC, along with former Goldman Sachs Canada CEO Tim Hodgson and former Rogers Communications CEO Nadir Mohamed. The current CEOs of Rogers and Magna International are also backers. Alignvest plans to acquire a private company with competent managers and strong growth potential in a sector that the SPAC's backers understand. SPAC shareholders have the right to vote on any transaction proposed by the company's management. If shareholders do not like the deal, they can redeem their shares for the IPO price.