The SEC prohibits blank check companies from using Rule 504. The number of special purpose acquisition company (SPAC) IPOs in the U.S. in 2024. A type of blank check company is a "special purpose ...
Investors are effectively handing the company a blank check to go out and buy some as-yet-unknown firm. A SPAC is formed by a management team, typically known as a sponsor, that often has a ...
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