Vin Murria, a technology entrepreneur in London who has taken three companies public through the traditional listing process, said several SPACs had approached her because they wanted to tap her knowledge of the European market.

“I can do some great introduction in the European technology space,” Ms. Murria said. “I know pretty much everyone, in a positive way.”

Simply put, the directors of a SPAC are expected to be a dream team. Culled from related but distinct industries, their expertise is meant to help find the company, woo the founders and bring it public in a reverse merger. Think of the movie “Ocean’s Eleven,” where everyone brought a different skill to pull off the heist.

Directors are generally among the group that puts up risk capital, which is the cash to help the SPAC fund its search for a company to take public. In turn, they are given an allocation of shares before the SPAC itself goes public. Shares in the SPAC are also how the directors are compensated — in lieu of traditional payments to directors.

In theory, at least, the SPAC will identify a company to buy and bring in some additional capital from what’s known as the PIPE market — or private investment in public equity — and then the company takes over the public listing and the SPAC fades away.

But how many SPACs are going to fail to find a company to acquire in the required two years, and what are the repercussions for the directors who are held to the standards of any public company director?

Because a director on a SPAC board is a temporary position, knowing who your partners will be is even more important, said Louise Sams, a retired executive vice president and general counsel of Turner Broadcasting System. She sits on the boards of two public companies as well as D&Z Media Acquisition, a SPAC.

“You have to think about the management team,” she said. “What law firm are they using? What investment bank are they using? What’s your comfort level with all of those people? As long as your comfort level is high, then you should join.”

Ms. Sams said it was important for her to know that the other directors came with knowledge and connections that could help the SPAC find a company. “You need to know what you’re bringing to the table,” she said.

Because once you get to the table, it’s a sprint to find a company and fulfill your mission.

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