(Reuters) – Smart-glass maker View Inc said on Monday it would go public through a $1.6 billion merger with a blank-check company sponsored by Cantor Fitzgerald & Co.
A blank-check company, or a special purpose acquisition company (SPAC), is a shell vehicle that uses capital raised through an initial public offering (IPO) to buy a private company, usually within two years. The deal then takes the private company public.
SPACs have emerged as a quick route to the stock market for companies, particularly auto technology startups concerned about the risk of the lengthy IPO process.
Source: Reuters – Smart-glass maker View to go public via $1.6 billion SPAC merger