SPACs, or special purpose acquisition companies, represent an interesting alternative path for private companies to access public capital markets and become publicly traded.
This article is a very good introduction to the subject. It outlines how SPACs work, the description of an ideal candidate company and the advantages and disadvantages of this solution (and the differences with an IPO).
In the right circumstances, SPACs offer private companies a viable alternative exit strategy and a very attractive method of reaching public markets. As with any complex corporate transaction, successfully executing a SPAC transaction will require careful consideration and execution, and close coordination with proper counsel and other advisers.