SPAC

abbreviation or noun

ˈspak

plural SPACs

: 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

Examples of SPAC in a Sentence

Recent Examples on the Web Trump Media went public on the Nasdaq on March 26 through a merger with shell company Digital World Acquisition Corp., a special purpose acquisition company, or SPAC. —

Kinsey Crowley, USA TODAY, 18 July 2024 Lucid went public through a SPAC in mid-2021 before releasing its first car. —

Leo Schwartz, Fortune, 17 July 2024 The stock came to market via a SPAC run by Howard Marks’ Oaktree Capital Management in October 2020. —

Todd Gordon, CNBC, 16 July 2024 In 2021, Genius went public on the New York Stock Exchange (NYSE: GENI) with a SPAC merger, reducing Apax’s stake to about 28% of the company. —

Kurt Badenhausen, Sportico.com, 10 July 2024 See all Example Sentences for SPAC

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'SPAC.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.