SPAC
noun/spæk/
/spæk/
[countable, uncountable] (also blank check company)
- a company set up on the stock exchange (= a place where shares are bought and sold) with the purpose of acquiring a private company (the abbreviation for ‘special purpose acquisition company’)
- SPACs have no underlying business of their own.
- In recent years there has been a boom in IPOs and SPAC mergers.
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SPAC