What kind of Special Purpose Acquisition Company (SPAC) data does PrivateRaise include in its membership service?
PrivateRaise tracks all pre-acquisition SPACs on domestic and foreign exchanges. A SPAC, or special purpose acquisition company, is a blank check company that completes an initial public offering pursuant to an exception from Rule 419 for companies raising more than $5 million. SPACs generally have an industry or regional focus with a related management team, and adopt several of the Rule 419 restrictions to assist in attracting investors. SPACs place a majority of their IPO proceeds into a trust account while they search for an acquisition within an established window of time, usually 24 months. Shareholders then vote to approve the proposed acquisition, or can receive their portion of proceeds held in trust.
