Concretely, a Spac is a structure listed on the stock exchange with the aim of making an acquisition. At the time of its quotation, it is thus only an empty shell. Contrary to a classic IPO, the funds raised from the public are not allocated to a specific project (financing of equipment, debt repayment…).

The main interest of Spacs is to allow the public to carry out private equity transactions (unlisted) through the Stock Exchange. Investors thus benefit from all the guarantees offered by listed companies (notably in terms of regulations and information) and can then easily exchange securities.

Professor Jacquet explains them and associates some convincing examples of these new substitutes to IPOs.

VIDEO VERSION