Special purpose acquisition company. It is such an unwieldy phase that it demands an acronym. And so these investment vehicles, also called blank check companies and shell companies, are known as SPACs.
A SPAC is a way for a small private company, — often with no revenue — to access public markets and investment without going through a cumbersome initial public offering (IPO).
SPAC-sponsored companies can talk about their projections for scaling the business and project revenue several years in...
https://www.freightwaves.com/news/demystifying-the-comings-and-goings-of-spacs