SHAP
- Spree Acquisition Corp. 1 Limited
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Overview
Company Summary
Spree Acquisition Corp. 1 Limited (SHAP) is a special purpose acquisition company (SPAC) incorporated in the Cayman Islands. SPACs are formed with the sole purpose of raising capital through an initial public offering (IPO) and using that capital to acquire or merge with an existing company.
Specifically, Spree Acquisition Corp. 1 Limited was created to identify, evaluate, and merge with an operating business in the technology, financial services, infrastructure, or consumer sectors. They seek to partner with a high-potential company that has compelling growth prospects and strong management.
Once the IPO is completed, and funds are raised, they have a limited time frame, usually two years, to identify a suitable target for acquisition. Upon identifying a suitable target, they negotiate a merger or acquisition deal, which combines the target company's operations with Spree Acquisition Corp. 1 Limited. This process effectively takes the target company public by bypassing the traditional IPO process.
The primary goal of SHAP is to provide a viable investment opportunity for investors who believe in the management team's ability to identify a promising company and generate substantial returns. However, until a merger or acquisition is completed, the company does not have any specific operations or products of its own. Its value lies in the potential of acquiring and merging with a promising business in the aforementioned sectors.