The deal
De-SPAC
The process, and the resulting company, once a SPAC has completed its combination.
Also written: despac, de-spac transaction
De-SPAC describes both the transaction and the company that emerges from it. Once complete, the vehicle stops being a cash shell and becomes whatever it bought.
The reputational history of de-SPACs is mixed, which is why the sponsor's and the syndicate's records before the fact carry weight.
Related terms
Business combination
The merger that turns the shell and a private company into one listed operating business.
PIPE
A private placement raised alongside the combination to replace cash lost to redemptions and validate the price.
Redemption
A public shareholder's right to hand back shares for their pro-rata share of the trust, exercisable at a vote.
See the term in the wild: the screener shows trust size, per-share value and deadlines for every U.S. SPAC, and each profile links to the filings the numbers came from.
Definitions describe market practice and are not investment, legal or tax advice.