Special Purpose Acquisition Company (SPAC)
- A special purpose acquisition company (SPAC) is a corporation formed for the sole purpose of raising investment capital through an initial public offering (IPO).
- Also known as "blank check companies,"
- SPACs are listed shell companies created with sole purpose purpose to acquire unlisted or private companies and then merge with the latter.
- SPACs are currently not allowed to raise capital through IPO in India.
