Demystifying the comings and goings of SPACs

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

Competition intensifies for commercial vehicle battery makers

Moving beyond electric vehicles themselves, blank-check companies are targeting battery developers critical to the growing demand for zero-emission commercial vehicles.

The most attractive battery-making companies have track records and significant revenue, reducing the risk to investors. The special purpose acquisition companies (SPACs) sponsoring their public debuts promise hundreds of millions of dollars for rapid scaling of the businesses.

Take Romeo Power Inc., founded in 2015 by expatriates...

https://www.freightwaves.com/news/competition-intensifies-for-commercial-vehicle-battery-makers