SPACs allow private companies to go public through acquisition, rather than through a formal IPO (Initial Public Offering). This is attractive for private companies that may want to enter the public market faster and under the guidance of more experienced industry leaders. When a SPAC enters the public market, investors can buy a unit for as low as $10.00. A unit consists of a common share and a warrant. A common share is a normal share of the company and is relatively stable.