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21:20
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Originally posted by waiken:
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A special purpose acquisition company (SPAC; /spæk/), also known as a "blank check company" is a shell corporation listed on a stock exchange with the purpose of acquiring a private company, thus making it public without going through the traditional initial public offering process.[1][2] According to the U.S. Securities and Exchange Commission (SEC), "A SPAC is created specifically to pool funds in order to finance a merger or acquisition opportunity within a set timeframe. The opportunity usually has yet to be identified".[3] SPACs raised a record $82 billion in 2020,[4] a period sometimes referred to as the "blank check boom".
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this is about how Animoca Brands got listed on the ASX, via a shell company, I think it used to be a mining company. So they should have some experience with this.
