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What is a SPAC (Special Purpose Acquisition Companies)?

April 26, 2017acquisition companies purpose SPAC special

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What is a SPAC (Special Purpose Acquisition Companies)?

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Theoretically, the SEC does not allow manufactured Public Shells to trade under Rule 419. However, if the public shell has over $5,000,000 in net assets and a stock price of $5.00 or greater, it can trade under the Penny Stock Rules. These shells are great if you can raise $5,000,000.