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hey everyone it is julie welcome to jt wealth investing 101 in todays video we are going over what a spec is so here we go all right now you have probably heard people talking about spax lately or these reverse mergers with these blank check companies and it has been a huge trend this past year but what exactly is ace back well spak stands for special purpose acquisition company now this is a company that is formed strictly to just raise money through their own ipo and then acquire and already operating private company now spax are typically formed by investors or sponsors with background in a specific industry or sector so they raise money from other investors and then look for a target company to acquire that is typically in that related industry or sector once a spac goes public they then have two years to acquire a company if they dont then the money that they have raised gets returned to the original shareholders so you have your listed spac with the cash held in trust and then
