A Special Purpose Acquisition Company (SPAC) is a type of publicly traded investment vehicle that is created specifically to acquire or merge with another company. SPACs are also sometimes called “blank check companies” because they are set up with the sole purpose of raising capital through an initial public offering (IPO) to later identify and merge with an existing private company.
Exclusive: U.S. regulator opens inquiry into Wall Street’s blank check IPO frenzy – sources
The U.S. securities regulator has opened an inquiry into Wall Street’s blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved, said four people with direct knowledge of the matter.
EV Maker Fisker To Make NYSE Trading Debut Today After SPAC Merger
Electric vehicle maker Fisker Inc announced Thursday it has completed a reverse merger with the blank check company Spartan Energy Acquisition Corp SPAQ 0.11%.