- Special Purpose Acquisition Company (SPAC) is a company with no commercial operations that is formed strictly to
raise capital through an initial public offering (IPO) for the purpose of acquiring an existing company.
- Warrants are a derivative that give the right, but not the obligation, to buy or sell a security - most commonly an equity
- at a certain price before expiration.
- A Business Development Company (BDC) is an organization that invests in small- and medium-sized companies as
well as distressed companies. A BDC helps the small- and medium-sized firms grow in the initial stages of their
- Tax loss selling is the selling of securities at a loss to offset a capital gains tax liability.
- The IPOX® SPAC Index is designed to track the aftermarket performance of Special Purpose Acquisition Companies (SPACs) which pursued initial public offerings (IPO) in the U.S. The index is an applied market-cap weighted index measuring the performance of the top publicly traded SPACs. The index is actively reconstituted and adjusted. You can not invest directly in an index.
- Special Purpose Acquisition Rights Company (SPARC), is a new investment vehicle that unlike a traditional SPAC, will only collect cash from investors once it's identified a target and published a prospectus. At that point investors can either buy in or trade their "rights".
SPACs are collective investment structures that pool capital in order to seek potential acquisition opportunities. SPACs
and similar entities, often referred to as “blank check” companies, have no operating history or ongoing business other
than to seek a potential acquisition. Certain SPACs may seek acquisitions only in limited industries or regions, which may
increase the volatility of their prices. Investments in SPACs may be illiquid and/or be subject to restrictions on resale. To
the extent the SPAC is invested in cash or similar securities, this may impact a fund’s ability to meet its investment