[VMG]

> A special purpose acquisition company (SPAC; /spæk/), also known as a "blank check company", is a shell corporation listed on a stock exchange with the purpose of acquiring a private company, thus making it public without going through the traditional initial public offering process and the associated regulations thereof.

https://en.wikipedia.org/wiki/Special-purpose_acquisition_co...

[Sander_Marechal]

Why is that even legal?

[mongol]

Why should it not be legal? Exactly what is wrong with it and how would legislation that forbids it but allows other M&A activities look like? I don't see a problem.

[drexlspivey]

If “Hacker” News was assigned as a regulator nothing would be legal