blank check company

plural blank check companies · alternative blank-check company

1. informalbusinessA company that exists solely for the purpose of merging with or acquiring another entity.

   1 more example

   Burger King is returning to the market through a combination with Justice Holdings, a so-called blank-check company run by Nicolas Berggruen and Martin Franklin. Formally known as a special purpose acquisition vehicle, it is essentially a shell company with a stock listing that aims to find and merge with a privately held corporation. Such entities essentially give private companies a quick and easy way to enter the public markets.

   2012 June 20, Michael J. de la Merced, “Burger King Rejoins the Public Markets”, NYTimes.com

   Synonyms: SPAC