What is a SPAC?

In this episode of Office Hours, SEC Chair Gary Gensler breaks down what a special purpose acquisition company (SPAC) is and potential concerns with SPAC investments. The Securities and Exchange Commission is working to ensure that investors in SPACs are being protected. This may require updating some rules so that investors are better informed about the fees and potential economic effects from the dilution of their ownership interest.

Source: https://www.sec.gov/news/sec-videos/office-hours-gary-gensler-what-spac-anyway