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Introduction – what are SPACs? A Special Purpose Acquisition Company, or ‘ SPAC,’ is a company created with cash only for the purpose of acquiring one or more businesses (the UK ‘blank-check company’ is very similar). SPACs are incorporated by a team of sponsors and initially raise capital through the public markets more quickly than a traditional IPO. Once capital has been raised, the sponsors seek to identify one or more private companies to purchase. The sponsors will generally target a specific industry or sector in which they have particular expertise. Once identified and a transaction is agreed, the SPAC will be combined with the target (this is known as a de-SPAC merger). In effect, this process is a reverse merger through which the private target becomes the resulting public company.

New yorkUnited statesFrance generalUnited kingdomCity ofNoord hollandBernard arnaultTidjane thiamJohnathan hillXavier nielExchange commissionA special purpose acquisition companySpecial purpose acquisition companyOfficial listLord johnathan hillLord hill