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
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Blank-check firms, or special purpose acquisition companies (SPACs), are shell companies that raise funds through a listing with the intention of acquiring a private company and taking it public, circumventing the initial public offering process.
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Reuters, CNN, 12 Dec. 2024
The alternative to YouTube went public in 2022 through a special purpose acquisition company led by Cantor Fitzgerald CEO Howard Lutnick.
—Tanaya MacHeel, CNBC, 26 Nov. 2024
In 2021, the company went public through a special purpose acquisition company (SPAC) merger and was valued at around $3.5 billion.
—Bruce Gil, Quartz, 12 Nov. 2024
These partners were hoping to benefit when a Barca Media spin-off was floated on New York’s NASDAQ stock exchange — but attempts to form a ‘SPAC’ (special purpose acquisition company), initially valued by Barca at €1billion, failed in late June.
—Dermot Corrigan, The Athletic, 28 July 2024
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Reuters, CNN, 12 Dec. 2024
The alternative to YouTube went public in 2022 through a special purpose acquisition company led by Cantor Fitzgerald CEO Howard Lutnick.
—Tanaya MacHeel, CNBC, 26 Nov. 2024
In 2021, the company went public through a special purpose acquisition company (SPAC) merger and was valued at around $3.5 billion.
—Bruce Gil, Quartz, 12 Nov. 2024
These partners were hoping to benefit when a Barca Media spin-off was floated on New York’s NASDAQ stock exchange — but attempts to form a ‘SPAC’ (special purpose acquisition company), initially valued by Barca at €1billion, failed in late June.
—Dermot Corrigan, The Athletic, 28 July 2024
See all Example Sentences for special purpose acquisition company
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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 26 Dec. 2024.
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