It is a blank cheque that is listed on the stock market. It later merges with the target. Grab, a company that we use daily in Singapore, was the largest spac listing in history.
Let’s not take moonshots. Let’s take over what’s crashed to Earth.
— motto of the new spac boom
A trend that peaked in 2021 has made a sudden revival. I am not talking about Covid, but spacs. Spacs, or special purpose acquisition companies, act as an alternative to an IPO.
