special purpose acquisition company

noun

plural special purpose acquisition companies

Definition of special purpose acquisition company

: a corporate shell (see shell entry 1 sense 11) set up by investors for the sole purpose of raising money through an initial public offering to acquire another business yet to be determined : blank check company — abbreviation SPAC

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special purpose acquisition company

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Cite this Entry

“Special purpose acquisition company.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/special%20purpose%20acquisition%20company. Accessed 25 May. 2022.

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MLA