A special purpose acquisition company (SPAC) is formed for the purpose of raising capital through an IPO and using those funds to acquire an operating business.

SPACs bring together experienced management teams, often comprising industry veterans, private equity sponsors or other financing experts who can leverage their expertise to raise capital to acquire, then operate, a new public company. within 24 months or less, a SPAC will find an attractive company to acquire and, once that transaction is completed, a new publicly traded company is formed.

Listing a SPAC at NYSE

Depending on their size and structure, a SPAC may choose to list on either the NYSE or NYSE American.

• NYSE is our premium market for the world’s largest and most well-known companies. NYSE-listed companies (including SPACs) benefit from a unique market model that combines state-of-the-art technology with human judgment via a Designated Market Maker (DMM) at the point of sale. DMMs have formal obligations to provide liquidity, improve quotes and encourage market participation. This ensures NYSE-listed companies receive the best possible market quality.
• NYSE American is our market for small to mid-cap growth companies. NYSE American companies benefit from an electronic market model designed to meet the needs of companies of this size. They benefit from an Electronic Designated Market Maker (EDMM) who also has formal obligations to provide liquidity, improve quotes and encourage market participation and quality.

Benefits of a NYSE Group SPAC listing