What is a SPAC?

Posted 
 by 
Kaladin
 in 
Stocks

I keep hearing about them on WallStreetBets

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rob 8 months ago

SPAC = Special Purpose Acquisition Company

Basically it's a holding company that has it's own IPO but does not business operations of its own.

The purpose of a SPAC is to buy other companies, generally in some specific industry. This often lets those acquired companies have a very quick "IPO" since they become publicly immediately since they are owned by a SPAC.

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