A special purpose acquisition company (SPAC) is a company with no commercial operations that are formed strictly to raise capital through an initial public offering (IPO) to acquire an existing company. Also known as "blank check companies," SPACs have been around for decades. They’ve become more prevalent in recent years, attracting big-name underwriters and investors and raising a record amount of IPO money in 2019.
A special purpose acquisition company (SPAC) is a company with no commercial operations that are formed strictly to raise capital through an initial public offering (IPO) to acquire an existing company. Also known as "blank check companies," SPACs have been around for decades. They’ve become more prevalent in recent years, attracting big-name underwriters and investors and raising a record amount of IPO money in 2019.
