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About SPACs
A special purpose acquisition company (SPAC) is formed for the purpose of raising capital through an IPO and using those funds to acquire an operating business.
SPACs bring together experienced management teams, often comprising industry veterans, private equity sponsors or other financing experts who can leverage their expertise to raise capital to acquire, then operate, a new public company within 24 months or less, a SPAC will find an attractive company to acquire and, once that transaction is completed, a new publicly traded company is formed.