A SPAC, or Special Purpose Acquisition Company, is an entity with no commercial activities, built with the specific purpose of acquiring a company. SPACs are also sometimes called blank check companies.
SPACs have seen some serious growth this year. By March 19, SPACs raised $87.9 billion — more than all of last year’s $83 billion. Since Covid — and even a little before that — SPACs have been gaining more interest from investors.
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