SPAC

abbreviation or noun

ˈspak 

plural SPACs

: special purpose acquisition company

Wall Street's biggest gold rush of recent years, SPACs are listed shell companies that raise funds to acquire a private company and take it public, allowing targets to sidestep the more onerous paperwork and regulatory checks faced by traditional initial public offerings.

—Katanga Johnson

Although special purpose acquisition companies (SPACs) could potentially fill some of this capital-providing role, they tend to focus more on larger businesses.

—Will Rhind

Examples of SPAC in a Sentence

Recent Examples on the Web

But Apex Fintech, which previously sought a $4.7 billion valuation in a 2021 SPAC deal, is certainly looking for ways to get back into the crypto game. —Lucinda Shen, Axios, 5 Mar. 2025

Of today’s active members, 25% were a result of an IPO (initial public offering) or SPAC (special purpose acquisition company) in the last five years. —Paulina Likos, CNBC, 1 Mar. 2025

Bongino’s success has come even as Rumble has faltered—following its SPAC merger in late 2022, Rumble’s users have flatlined and the platform hemorrhaged cash. —Kyle Khan-Mullins, Forbes, 25 Feb. 2025

Zoom in: The company, which came public during the SPAC boom, saw its market value plunge 96% over the span of a year. —Michael Flaherty, Axios, 19 Feb. 2025

Word History

First Known Use

1993, in the meaning defined above