What's a SPAC? Inside the unstoppable rise of 'blank-check companies,' the IPO alternative that startups and VCs are piling into.

· A SPAC is a type of shell company that raises funds through an IPO that can then be used for acquisitions.
· Sometimes referred to as a "blank-check company," the SPAC has defied market jitters in a recession. More than half of the IPOs priced between mid-March and May were SPACs.
· For a company looking to exit, selling...