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
Sample 1Sample 2

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

  • Special Purpose Securitization Subsidiary means (i) a direct or indirect Subsidiary of the Borrower established in connection with a Permitted Securitization Financing for the acquisition of Securitization Assets or interests therein, and which is organized in a manner (as determined by the Borrower in good faith) intended to reduce the likelihood that it would be substantively consolidated with Holdings (prior to a Qualified IPO), the Borrower or any of the Subsidiaries (other than Special Purpose Securitization Subsidiaries) in the event Holdings (prior to a Qualified IPO), the Borrower or any such Subsidiary becomes subject to a proceeding under the U.S. Bankruptcy Code (or other insolvency law) and (ii) any subsidiary of a Special Purpose Securitization Subsidiary.

  • securitisation special purpose entity or ‘SSPE’ means a corporation trust or other entity, other than an institution, organised for carrying out a securitisation or securitisations, the activities of which are limited to those appropriate to accom­ plishing that objective, the structure of which is intended to isolate the obligations of the SSPE from those of the originator institution, and in which the holders of the beneficial interests have the right to pledge or exchange those interests without restriction;

  • Community Contribution Company means a corporation formed under the laws of British Columbia that includes in its articles the following statement:

  • mixed financial holding company means a mixed financial holding company as defined in point (21) of Article 4(1) of Regulation (EU) No 575/2013;

  • Family farm corporation means a corporation founded for the purpose of farming agricultural land in which the majority of the voting stock is held by and the majority of the stockholders are persons or the spouse of persons related to each other within the fourth degree of kinship, according to the rules of the civil law, and at least one of the related persons is residing on or actively operating the farm, and none of whose stockholders are a corporation. A family farm corporation does not cease to qualify under this division where, by reason of any devise, bequest, or the operation of the laws of descent or distribution, the ownership of shares of voting stock is transferred to another person, as long as that person is within the degree of kinship stipulated in this division.

  • Asset Management Company/UTI AMC/AMC/Investment Manager means the UTI Asset Management Company Limited incorporated under the Companies Act, 1956, (1 of 1956) [replaced by The Companies Act, 2013 (No.18 of 2013)] and approved as such by Securities and Exchange Board of India (SEBI) under sub-regulation (2) of Regulation 21 to act as the Investment Manager to the schemes of UTI Mutual Fund.

  • Limited Condition Acquisition means any acquisition, including by way of merger, by the Borrower or one or more of its Restricted Subsidiaries permitted pursuant to this Agreement whose consummation is not conditioned upon the availability of, or on obtaining, third party financing.

  • Asset management is a principle/practice that includes planning processes, approaches, plans, or related documents that support an integrated lifecycle approach to the effective stewardship of infrastructure assets to maximize benefits and effectively manage risk.

  • financial holding company means a financial institution, the subsidiary undertakings of which are either exclusively or mainly credit institutions or financial institutions, at least one of such subsidiary undertakings being a credit institution, and which is not a mixed financial holding company within the meaning of Article 2(15) of Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate (1);

  • Qualifying Acquisition has the meaning specified in Section 5.03.

  • Asset Management Plan means a plan created by the department and approved by the state transportation commission or a plan created by a local road agency and approved by the local road agency's governing body that includes provisions for asset inventory, performance goals, risk of failure analysis, anticipated revenues and expenses, performance outcomes, and coordination with other infrastructure owners.

  • agricultural holding means a portion of land not less than 0.8 hectares in extent used solely or mainly for the purpose of agriculture, horticulture or for breeding or keeping domesticated animals, poultry or bees;

  • Asset Management Agreement means, as the context requires, any agreement entered into between a Series and an Asset Manager pursuant to which such Asset Manager is appointed as manager of the relevant Series Assets, as amended from time to time.