Cash shell

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Companies - special purpose vehicles - acquisitions.

A cash shell is a company whose assets are substantially, or entirely, cash or cash equivalents.

Some cash shells may have a strategy to seek an acquisition opportunity or to develop a business as a start-up.

Accordingly, there is some overlap between cash shell companies and Special Purpose Acquisition Companies (SPACs).

(Source - Financial Conduct Authority - Primary Market Technical Note 420 - updated August 2021)

See also