Special-purpose acquisition company
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What Wikipedia says
A special-purpose acquisition company (SPAC; ), also known as a blank check company or a blind-pool stock offering, is a shell corporation listed on a stock exchange with the purpose of acquiring (or merging with) a private company, thus taking the private company public through a procedure which requires fewer regulatory filings and has fewer safeguards for investors than the initial public offering (IPO) process.
Excerpt from the Wikipedia article “Special-purpose acquisition company”, under the CC BY-SA 4.0 license. Read the article on Wikipedia
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