{"id":4907,"date":"2021-08-20T13:59:17","date_gmt":"2021-08-20T13:59:17","guid":{"rendered":"https:\/\/marc.deschenaux.com\/?p=4907"},"modified":"2021-10-17T10:41:23","modified_gmt":"2021-10-17T10:41:23","slug":"what-is-a-spac","status":"publish","type":"post","link":"https:\/\/marc.deschenaux.com\/it\/beginners\/spac-variants\/what-is-a-spac\/","title":{"rendered":"Cos&#039;\u00e8 una SPAC?"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"4907\" class=\"elementor elementor-4907\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3e5c508 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3e5c508\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-213c791\" data-id=\"213c791\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e2e3f69 elementor-widget elementor-widget-text-editor\" data-id=\"e2e3f69\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>A Special Purpose Acquisition Company<\/strong><\/p><p>Is a public shell company created to acquire a private company and put it into the public markets. SPACs are also called \u201cblank check\u201d companies, they go public before their acquisition company is discovered. An alternative to a classic IPO for some startups and a new way to raise capital for investors. Richard Branson went public on Virgin Galactic in October 2019 using a SPAC.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-319fbe2 elementor-widget elementor-widget-image\" data-id=\"319fbe2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"764\" height=\"477\" src=\"https:\/\/marc.deschenaux.com\/wp-content\/uploads\/spacs-ipos-2021.jpg\" class=\"attachment-large size-large wp-image-4911\" alt=\"\" srcset=\"https:\/\/marc.deschenaux.com\/wp-content\/uploads\/spacs-ipos-2021.jpg 764w, https:\/\/marc.deschenaux.com\/wp-content\/uploads\/spacs-ipos-2021-300x187.jpg 300w, https:\/\/marc.deschenaux.com\/wp-content\/uploads\/spacs-ipos-2021-16x10.jpg 16w\" sizes=\"(max-width: 764px) 100vw, 764px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1a713c2 elementor-widget elementor-widget-text-editor\" data-id=\"1a713c2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Although SPACs have existed since the 90s, they have gained popularity in recent times. The total funds raised by SPAC\u2019s in 2o2o represented almost 45% of the the total IPO volume.<\/p><p>Today, SPACs are an attractive offering. The target company is able to go public easier avoiding much of the requirements of a traditional IPO. For investors it is a great opportunity to gain access to high-reward investments. For Sponsors that create the SPAC and find the target company, it is a way to list a company faster and more efficiently.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5e1b4d5 elementor-widget elementor-widget-heading\" data-id=\"5e1b4d5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">How a SPAC works<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dd2df1e elementor-widget elementor-widget-text-editor\" data-id=\"dd2df1e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li>The SPAC is headed by a sponsor , i.e a recognised market expert that undergoes an IPO procedure according to the rules established by the SEC. The filing process is easy and fast, because the company actually has no operational business.<\/li><li>Then sponsors go on a roadshow in order to find interested investors. The difference is that they don\u2019t sell a specific company, but themselves, their team and experience.<\/li><li>Sponsors put the money raised from the IPO into a untouchable blind trust, until the acquisition transaction is finalised.<\/li><li>The sponsor gets 20% \u00abpromote\u00bb fee of the shares<\/li><li>Sponsors have 2 years to find a company to acquire, in case if they are not able to find a target, investors monies is returned.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-da4fa0c elementor-widget elementor-widget-image\" data-id=\"da4fa0c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"300\" height=\"211\" src=\"https:\/\/marc.deschenaux.com\/wp-content\/uploads\/shake-hands.jpg\" class=\"attachment-large size-large wp-image-4912\" alt=\"\" srcset=\"https:\/\/marc.deschenaux.com\/wp-content\/uploads\/shake-hands.jpg 300w, https:\/\/marc.deschenaux.com\/wp-content\/uploads\/shake-hands-16x12.jpg 16w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3a9388f elementor-widget elementor-widget-heading\" data-id=\"3a9388f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">De-SPAC <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a0d3e5b elementor-widget elementor-widget-text-editor\" data-id=\"a0d3e5b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>After sponsors have found a company, the acquisition of a company and the terms of such an acquisition are discussed with the existing SPAC shareholders, and after the transaction, they usually receive not only a corresponding stake in the new company, but also options to purchase some more shares in the future.<\/p><ul><li>The target company is presented to shareholders, who have an opportunity to vote on the acquisition. They also can redeem their shares for their money back if sponsors chose a company that they don\u2019t like even if the acquisition is approved.<\/li><li>Once the final decision is made, the merger process starts. Traditional IPO takes from 24-36 months, while SPACs mergers process takes 3 to 4 month.<\/li><li>The Target company appears in a public market under its name.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7423ba9 elementor-blockquote--skin-border elementor-widget elementor-widget-blockquote\" data-id=\"7423ba9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"blockquote.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<blockquote class=\"elementor-blockquote\">\n\t\t\t<p class=\"elementor-blockquote__content\">\n\t\t\t\t\u201cSPACs have become a new way of doing an M.&amp;A. deal,\u201d.\t\t\t<\/p>\n\t\t\t\t\t\t\t<div class=\"e-q-footer\">\n\t\t\t\t\t\t\t\t\t\t\t<cite class=\"elementor-blockquote__author\">Jeff Mortara, the head of equity capital markets origination at UBS<\/cite>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-24d8305 elementor-widget elementor-widget-image\" data-id=\"24d8305\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"259\" height=\"266\" src=\"https:\/\/marc.deschenaux.com\/wp-content\/uploads\/money-in-hands.jpg\" class=\"attachment-large size-large wp-image-4913\" alt=\"\" srcset=\"https:\/\/marc.deschenaux.com\/wp-content\/uploads\/money-in-hands.jpg 259w, https:\/\/marc.deschenaux.com\/wp-content\/uploads\/money-in-hands-12x12.jpg 12w\" sizes=\"(max-width: 259px) 100vw, 259px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e2821f0 elementor-widget elementor-widget-heading\" data-id=\"e2821f0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Why now for investors?<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a804558 elementor-widget elementor-widget-text-editor\" data-id=\"a804558\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Lower risk for institutional investors, who receive warrants before the IPO, which allows them to buy more shares, after the target company is introduced, for a little bit more than the initial purchase price.<\/p><ul><li>Opportunity to redeem the shares if they are unsatisfied with the target company.<\/li><li>Investing in SPACs can also be a convenient option for those who want to invest at the IPO stage, as a small investor, because in a normal placement as one can access the purchase of shares only after institutional investors, who have already bought the company\u2019s shares at a significant discount.<\/li><li>The greater reliability of such options allows SPACs to attract both IPO and direct placement investors.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1ac2205 elementor-widget elementor-widget-image\" data-id=\"1ac2205\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"259\" height=\"266\" src=\"https:\/\/marc.deschenaux.com\/wp-content\/uploads\/dollar-coins.jpg\" class=\"attachment-large size-large wp-image-4914\" alt=\"\" srcset=\"https:\/\/marc.deschenaux.com\/wp-content\/uploads\/dollar-coins.jpg 259w, https:\/\/marc.deschenaux.com\/wp-content\/uploads\/dollar-coins-12x12.jpg 12w\" sizes=\"(max-width: 259px) 100vw, 259px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-df89c22 elementor-widget elementor-widget-heading\" data-id=\"df89c22\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Why now for companies?<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f52b8f2 elementor-widget elementor-widget-text-editor\" data-id=\"f52b8f2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li>The attractiveness of SPAC for the founders of the company, which is planned to be made public is that the merger with SPAC avoids the lengthy, costly and rather complicated process of IPO with roadshows, negotiations with underwriters \/ brokers and institutional investors and other procedures. In the case of SPAC, negotiations are conducted with only one party, without the involvement of underwriters \/ brokers, and immediately after the completion of the transaction, the company receives all the benefits of going public.<\/li><li>In SPACs, the company\u2019s share price is assured and defined by investors preferences as well as market forces and by the valuation of the company\u2019s fundamentals. A SPAC deal avoids price uncertainty, because the target company\u2019s management is able to negotiate an exact purchase price. This is not the case for IPOs.<\/li><li>Besides the easer and faster IPO process, companies also get a team of experienced advisors, who assist companies\u2019 management on post IPO steps.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8813e59 elementor-widget elementor-widget-heading\" data-id=\"8813e59\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Challenges and concerns<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-95d89a4 elementor-widget elementor-widget-text-editor\" data-id=\"95d89a4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li>Investors investing in SPACs cannot expect a return too quickly, as the process of finding a company to buy can take up to two years.<\/li><li>Shareholders invest in a company without knowing what exactly it will buy and whether the search for a company to acquire will be successful.<\/li><li>The sponsor has 2 years to find and acquire a company, if that deadline is approaching, the sponsor may choose the wrong company to buy, that can be harmful for investors.<\/li><li>Unlike a direct placement, a SPAC costs are similar than a traditional IPO, since in this case commissions are also paid to underwriters \/ brokers, bank consultations. Often SPACs turn out to be even more expensive than traditional IPOs.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-748acc9 elementor-blockquote--skin-border elementor-widget elementor-widget-blockquote\" data-id=\"748acc9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"blockquote.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<blockquote class=\"elementor-blockquote\">\n\t\t\t<p class=\"elementor-blockquote__content\">\n\t\t\t\t\u201cI believe that we\u2019re at an interesting beginning point of a new place in the capital stack,\u201d\t\t\t<\/p>\n\t\t\t\t\t\t\t<div class=\"e-q-footer\">\n\t\t\t\t\t\t\t\t\t\t\t<cite class=\"elementor-blockquote__author\"> Mark Pincus about SPACs<\/cite>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c4acefa elementor-widget elementor-widget-image\" data-id=\"c4acefa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"259\" height=\"266\" src=\"https:\/\/marc.deschenaux.com\/wp-content\/uploads\/target-img.jpg\" class=\"attachment-large size-large wp-image-4915\" alt=\"\" srcset=\"https:\/\/marc.deschenaux.com\/wp-content\/uploads\/target-img.jpg 259w, https:\/\/marc.deschenaux.com\/wp-content\/uploads\/target-img-12x12.jpg 12w\" sizes=\"(max-width: 259px) 100vw, 259px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a2f9a4e elementor-widget elementor-widget-heading\" data-id=\"a2f9a4e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Looking ahead<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3a8403d elementor-widget elementor-widget-text-editor\" data-id=\"3a8403d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Today, the main winners of the SPAC boom are the sponsors. With the growing popularity of SPACs, sponsors\u2019 competition for deals is also growing. This can lead to a more company-friendly approach and less sponsor focused deal structures.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c48ea69 elementor-widget elementor-widget-heading\" data-id=\"c48ea69\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Resources<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d198008 elementor-widget elementor-widget-text-editor\" data-id=\"d198008\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li>Big Blank Checks. (2020, July 14). Retrieved December 23, 2020, from https:\/\/www.nytimes.com\/2020\/07\/14\/business\/dealbook\/spac-blank-check.html?searchResultPosition=8<\/li><li>Rostan, S. (2020, October 09). How to assess the risks before you invest in a SPAC. Retrieved December 23, 2020, from https:\/\/www.marketwatch.com\/story\/how-to-assess-the-risks-before-you-invest-in-a-spac-11602261758<\/li><li>Hrnjic, E. (2020, December 22). The shortcomings and hidden costs of SPACs. Retrieved December 23, 2020, from https:\/\/www.businesstimes.com.sg\/opinion\/the-shortcomings-and-hidden-costs-of-spacs<\/li><li>The Urge to Reverse Merge. (2020, August 25). Retrieved December 23, 2020, from https:\/\/www.nytimes.com\/2020\/08\/25\/business\/dealbook\/spac-ipo-boom.html<\/li><li>What Is A SPAC? (2020, December 17) from https:\/\/swissfinanciers.com\/what-is-a-spac\/<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ecb1d70 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"ecb1d70\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/swissfinanciers.com\/wp-content\/uploads\/SPAC-SF.pdf\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Download PDF<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Una societ\u00e0 di acquisizione per scopi speciali \u00c8 una societ\u00e0 di comodo pubblica creata per acquisire una societ\u00e0 privata e immetterla nei mercati pubblici. Le SPAC sono anche chiamate societ\u00e0 &quot;assegno in bianco&quot;, diventano pubbliche prima che la loro societ\u00e0 di acquisizione venga scoperta. Un&#039;alternativa alla classica IPO per alcune startup e un nuovo modo di raccogliere capitali... <a title=\"Cos&#039;\u00e8 una SPAC?\" class=\"read-more\" href=\"https:\/\/marc.deschenaux.com\/it\/beginners\/spac-variants\/what-is-a-spac\/\" aria-label=\"Per saperne di pi\u00f9 su What is a SPAC?\">Leggi tutto<\/a><\/p>","protected":false},"author":1,"featured_media":4910,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wds_primary_category":51,"footnotes":""},"categories":[51],"tags":[19,54],"class_list":["post-4907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-spac-variants","tag-investment","tag-spac"],"_links":{"self":[{"href":"https:\/\/marc.deschenaux.com\/it\/wp-json\/wp\/v2\/posts\/4907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/marc.deschenaux.com\/it\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/marc.deschenaux.com\/it\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/marc.deschenaux.com\/it\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/marc.deschenaux.com\/it\/wp-json\/wp\/v2\/comments?post=4907"}],"version-history":[{"count":0,"href":"https:\/\/marc.deschenaux.com\/it\/wp-json\/wp\/v2\/posts\/4907\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/marc.deschenaux.com\/it\/wp-json\/wp\/v2\/media\/4910"}],"wp:attachment":[{"href":"https:\/\/marc.deschenaux.com\/it\/wp-json\/wp\/v2\/media?parent=4907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marc.deschenaux.com\/it\/wp-json\/wp\/v2\/categories?post=4907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marc.deschenaux.com\/it\/wp-json\/wp\/v2\/tags?post=4907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}