SPAC

American  

[es-pee-ey-see, spak] / ˈɛsˈpiˈeɪˈsi, spæk /

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.

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Example Sentences

The stock went public through the special purpose acquisition company, or SPAC, process with an enterprise value around $700 million.

From Barron's • Mar. 5, 2026

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.

From The Wall Street Journal • Oct. 8, 2025

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.

From Los Angeles Times • Aug. 24, 2024

It’s an example of what’s called a special purpose acquisition company, or SPAC, which can give young companies quicker and easier routes to getting their shares trading publicly.

From Seattle Times • May 20, 2024

The move was accomplished via what is known as a SPAC, a merger with a publicly listed shell company, Digital World Acquisition Corp, which was expressly created to buy a company and take it public.

From BBC • Mar. 26, 2024