A _______ company is a development-stage company that has no specific business plan or has a business plan to acquire a currently unknown business.

Question

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A blank-check company is also known as a special-purpose acquisition company (SPAC), and it is established solely with the purpose of raising capital through an initial public offering (IPO) to acquire an existing company later. At the time of the IPO, the specific company to be acquired is not identified, giving the blank-check company the flexibility to select an attractive target later on. Therefore, a blank-check company has no specific business plan or intention to operate a particular business at the time of going public.

A _______ Company Is a Development-Stage Company That Has No