SPACs, Special Purpose Acquisition Companies, are investments vehicles that allow public investors to invest in areas sought by private equity firms. SPACs are shell or blank-check companies that have no operations but that go public with the intention of merging with or acquiring a company with the proceeds of an initial public offering. A SPAC is similar to a reverse merger. However, unlike reverse mergers, SPACs come with a clean public shell company, better economics for the management teams and sponsors, certainty of financing/growth capital in place, a built-in institutional investor base and an experienced management team. SPACs are set up with a clean slate where the management team searches for a target to acquire. This is contrary to pre-existing companies in reverse mergers.
SPACs raise blind pool money (most of which goes into a trust) from the public for an unspecified merger, sometimes in a targeted industry. The SPAC raises money to go public first, then looks for a private company to buy usually in the high-tech sector. SPACs serve an important role in bringing new technology to the market.
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A special purpose acquisition corporation, commonly known as a SPAC, and formally a development stage company, is generally incorporated with the primary objective of raising funds through a public offering of its securities primarily for purpose of acquiring one or more operating companies. Please visit online http://www.dynastyresources.net in NewYork city.