special purpose acquisition company

noun

plural special purpose acquisition companies

: a corporate shell (see shell entry 1 sense 11) set up by investors for the sole purpose of raising money through an initial public offering to acquire another business yet to be determined : blank check company

—abbreviation SPAC

Examples of special purpose acquisition company in a Sentence

Recent Examples on the Web

Examples are automatically compiled from online sources to show current usage. Read More Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback.

In September 2021, Lilium went public on the Nasdaq via a merger with a special purpose acquisition company called SPAC Qell. —

Ryan Browne, CNBC, 23 Oct. 2024 The company went public in 2021 through a special purpose acquisition company (SPAC), but its stock has since plummeted by 97%. —

Bruce Gil, Quartz, 18 Oct. 2024 The startup listed on the Nasdaq in April 2022 through a special purpose acquisition company (SPAC); shares have since dropped by over 90%. —

Lionel Lim, Fortune Asia, 16 Oct. 2024 Founded in 2016, Fisker went public in 2020 via a special purpose acquisition company backed by private equity firm Apollo Global Management. —

Laurence Darmiento, Los Angeles Times, 11 Oct. 2024 See all Example Sentences for special purpose acquisition company

Word History

First Known Use

1994, in the meaning defined above

Time Traveler

The first known use of special purpose acquisition company was in 1994

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Dictionary Entries Near special purpose acquisition company

special property

special purpose acquisition company

special relativity

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“Special purpose acquisition company.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/special%20purpose%20acquisition%20company. Accessed 25 Nov. 2024.

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