What is a SPAC?
The acronym stands for Special Purpose Acquisition Company.It is also known as a “blank check” shell company as it has nobusiness operation.
The aim is to raise funds through an initial public offering (IPO)and to merge with an already operational private company inorder to bring them publicly listed on the stock market.
Who are the SPAC stakeholders?
How does a SPAC work?
A SPAC is a special purpose acquisition company that goes public without any commercial operation.
The private company,therefore, goes public by merging with a shell company (SPAC).