What Is a Special Purpose Acquisition Company (SPAC)?
A special purpose acquisition company (SPAC) is a company without commercial operations and is formed strictly to raise capital through an IPO for the purpose of acquiring or merging with an existing company.
Also known as blank check companies, SPACs have existed for decades, but their popularity has soared in recent years. In 2020, 247 SPACs were created with $80 billion invested, and in 2021, there were a record 613 SPAC IPOs.
In October the TDHI SPAC will also be presented in the Italian media to allow TDHI partners and business consultants also in Italy to participate in the establishment of the TDHI PAY Bank.