Anatomy of a SPAC Merger: Step-by-Step Through a SPAC Deal

 

Executives reviewing SPAC merger steps on digital dashboards in a boardroom.

A SPAC merger takes your private company public by combining with a pre-listed shell company. You move through structured phases—SPAC IPO, target search, due diligence, merger agreement, shareholder vote, and de-SPAC closure—typically within 6–9 months.

When you pursue a SPAC merger, you gain a faster path to the public markets than a traditional IPO. This article breaks down the full process step by step, helping you understand what each stage involves, where the risks lie, and how to maximize outcomes in compressed timelines.

How does the SPAC form and raise capital?

The process begins when a sponsor creates a Special Purpose Acquisition Company (SPAC). This entity has no operations—it exists solely to raise money and acquire a target. 

Continued. 

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