Special Purpose Acquisition Corporation definition

Special Purpose Acquisition Corporation or “SPAC” means an issuer that does not have an operating business or a specific business plan or that has indicated that its business plan is to engage in a merger or acquisition of, by or with a business or businesses (without any binding agreement to do so at the time of the IPO final prospectus) within a specific period of time.
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Special Purpose Acquisition Corporation or “SPAC” means an issuer that does not have an operating business or a specific business plan or that has indicated that its business plan is to engage in a merger or
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Examples of Special Purpose Acquisition Corporation in a sentence

  • SHA is a Special Purpose Acquisition Corporation (SPAC) and has currently negotiated the buy of the Chinese pharmaceutical company Sichuan Kelun Pharmaceutical or Kelun, provisionally pending approval from the Chinese Competition and Fair Trade Authority which is an ongoing process.

  • Murray, The Regulation and Pricing of Special Purpose Acquisition Corporation IPOs (SSRN Working Paper, 2014); James S.

  • Usually, the public company involved in a RM is either a defunct company, which is a company that does not have real activities anymore and that only preserves its corporate structure, or a SPAC (Special Purpose Acquisition Corporation, also called shell company), that is a company founded with the only objective to serve as a going public vehicle.

  • Special Purpose Acquisition Corporation or “blank cheque” company – a shell company with only cash seeking to acquire a business.In this respect, we have a small position in BOWX Acqusition Corp, the SPAC11 which is acquiring WeWork at an implied enterprise valuation of US$8.6billion ($6.55bn equity; $2.07bn debt12); this compares to the postulated IPO in Q3 2019 of US$47 billion.

  • Instead of raising capital by filing for an initial public offering, Ittella chose to be acquired by Forum Merger II Corporation, a Special Purpose Acquisition Corporation (SPAC) – or “blank check” company – that was originally underwritten by Jefferies and EarlyBirdCapital.

  • Parameters reflect best estimates of future experience, consistent with the valuation bases used by the statutory actuaries, excluding any compulsory or discretionary margins.

  • Our proposal draws inspiration from an existing corporate form, the Special Purpose Acquisition Corporation (SPAC).

  • Here, however innovation and imitation in the Special Purpose Acquisition Corporation (SPAC) structure is clearly visible.

  • Mr. Paisley also serves on the board of directors of Equinix, Inc., a provider of network colocation, interconnection and managed services, Fastly, Inc., a cloud computing services provider, and Enterprise 4.0, a Special Purpose Acquisition Corporation.

  • Following our discovery of this error, the Company performed a materiality assessment, which led us to conclude that our interim financial statements could no longer be relied upon because Special Purpose Acquisition Corporation (“SPAC”) investors consider redemptions as critical to the portrayal of a SPAC’s financial statements.

Related to Special Purpose Acquisition Corporation

  • Limited Condition Acquisition means any acquisition of an Acquired Entity or Business by the Borrower or any Restricted Subsidiary the consummation of which is not conditioned on the availability of financing.