{"iri":"https://folio.openlegalstandard.org/R9uzjRTP8QeY8QG9zT9rMU0","label":"Special Purpose Acquisition Company","sub_class_of":["https://folio.openlegalstandard.org/RCua1MtzwNcjfYov8VFcoV3"],"parent_class_of":[],"is_defined_by":null,"see_also":[],"comment":null,"deprecated":false,"preferred_label":"SPAC","alternative_labels":[],"translations":{},"hidden_label":null,"definition":"A Special Purpose Acquisition Company (SPAC) is a shell corporation specifically created to raise capital through an initial public offering (IPO) for the purpose of acquiring an existing company. Once the funds are raised, the SPAC identifies a target company to acquire, and if the acquisition is successful, the SPAC effectively takes the acquired company public.","examples":[],"notes":[],"history_note":null,"editorial_note":null,"in_scheme":null,"identifier":null,"description":null,"source":null,"country":null}