What is a SPAC?

Special Purpose Acquisition Companies (SPACs), also known as blank-check companies, are publicly traded investment vehicles that raise funds via an IPO in order to complete a future acquisition. SPACs are now available on the Nasdaq's Nordic Exchanges and they are traded just like any other stock and available to trade through your broker.

SPACs raise capital in an initial public offering with the proceeds held in a blocked deposit account until released to fund the business combination. Upon closing of the business combination, and subject to an ordinary listing review by the exchange, the SPAC combines with the identified target to form a listed operating company. In recent years, SPAC IPOs have grown both in volume and in gross proceeds.

Advantages for investors  

  • Access to investment assets generally reserved for private equity firms and other sophisticated investors
  • Investing together with an experienced sponsor team with industry and/or M&A experience
  • A SPAC investment presents the opportunity for additional upside through the exercise of warrants if there is a successful business combination

To learn more about how a SPAC works, view the SPAC Product Sheet and the FAQ. You can also read more in the comprehensive legal Nasdaq Nordic Main Market Q&A