How to pronounce“spac”in English
and for every $10 that you hand to this sponsor, the sponsor gives you one share and these shares are traded on the stock market.
SPAC got a bad name in the 80s when many of the people running them would raise money and then just steal it for themselves.
They were rehabilitated by a broker in Long Island named David Nussbaum, came up with a important protection for investors,
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Definitions of “spac”
Acronym of special-purpose acquisition company.
“Their company, Reinvent Technology Partners, raised $600 million in an I.P.O. and started trading yesterday, posting one of the biggest one-day share price gains of any SPAC so far this year. That suggests that investors see promise in their approach, well before their vehicle finds a target company to merge with.”
To become a listed company via a merger with a special-purpose acquisition company.
“The startup SPACed and was listed on the Nasdaq stock exchange.”