A(n)__________ company is a development-stage company that has no specific business plan or has a business plan to acquire a currently unknown business.

Question

Quizplus · Accepted Answer

A blank check company, also known as a Special Purpose Acquisition Company (SPAC), is a development-stage company that has no specific business plan but aims to raise funds from investors to finance the eventual acquisition of a currently unknown or unspecified business. The company is set up as a shell corporation with the purpose of going public through an initial public offering (IPO) and then using the proceeds from the IPO to acquire an operational company within a set timeframe. Therefore, choice C is the correct option.

A(n)__________ Company Is a Development-Stage Company That Has No Specific