Home > Blossary: Trading related Terms and Definitions in economy > Term: special purpose acquisition company (SPAC)
special purpose acquisition company (SPAC)
A company formed to raise money to acquire an existing privately owned company. SPACs raise money from investors interested in owning shares in an unspecified private company, usually in a targeted industry. If the SPAC is successful in taking over the company, the investors will receive a specified number of shares. If the SPAC is not successful, the funds raised will be returned to the investors.
- Part of Speech: noun
- Industry/Domain: Economy
- Category: International economics
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(Wuhan, China)