SPAC

abbreviation or noun

\ ˈspak

plural SPACs

Definition of SPAC

: special purpose acquisition company Wall Street's biggest gold rush of recent years, SPACs are listed shell companies that raise funds to acquire a private company and take it public, allowing targets to sidestep the more onerous paperwork and regulatory checks faced by traditional initial public offerings.— Katanga Johnson Although special purpose acquisition companies (SPACs) could potentially fill some of this capital-providing role, they tend to focus more on larger businesses.— Will Rhind