SPAC
Special purpose acquisition company (SPAC) is also known as ‘targeted acquisition company (TAC)’. It is a company whose main purpose is to acquire an existing company. As a publicly-traded buyout company, SPACs raise money for the acquisition by pooling money, usually in a trust fund, from the public and often in a targeted industry in the name of an unspecified merger. Generally, every SPAC is sold at $6 per unit of one share of a common stock. If no acquisition and merger occurs within two years, assets go back to their respective investors.
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ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 07:00 | Leading Indicators | Aug | |
| 11:00 | Ifo Business Climate Index | Oct | |
| 11:00 | Ifo Current Assessment | Oct | |
| 11:00 | IFO - Expectations | Oct | |
| 13:00 | CBI retail sales volume balance | Oct | |
| 01:50 | Corporate Service Price Index | Sep | |
| 02:01 | BRC Shop Price Index | Oct | |
| 07:00 | BOJ Core CPI | Sep | |
| 10:00 | Unemployment Rate | 3 quarter |
