SPAC

[es-pee-ey-see, spak]

noun

Finance, Investing.

1. special-purpose acquisition company: a company set up solely to raise capital in order to invest in or purchase an existing company.

Example Sentences

The company, which went public via a SPAC, raised $130 million to fund its first reactor.

Read more on Barron's

She said Cantor has no nonpublic information about the administration’s initiatives and noted that the firm was the underwriter, not the sponsor of the SPAC.

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Talkspace, which provides online therapy and psychiatry services through a subscription-based model, went public via a special purpose acquisition company, or SPAC, in 2021, climbed briefly over $12, and now trades for $2.60.

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Founded in 2016 by auto designer Henrik Fisker, the company went public in 2020 via a SPAC, or special purpose acquisition company, backed by private equity firm Apollo Global Management.

Read more on Los Angeles Times

As I wrote prior to the IPO, it was taken public via a special purpose acquisition company, or SPAC, a process that was often employed to circumvent government rules for disclosures to investors.

Read more on Los Angeles Times