A blank check company is a public company that has no established business. They are often used to gather funds to acquire or merge with another company which is usually a private company. Blank check companies are regulated by the Securities and Exchange Commission (SEC) Rule 419. Special purpose acquisition companies are a type of blank check company.

The SEC usually considers blank check companies to be penny stocks or microcap stocks which subjects them to certain regulations and prohibits them from using Rule 504.

Anyone intending to form a blank check company or special purpose acquisition company should consult with experienced legal counsel.

Securities and Securitization

Direct Listings - Direct Public Offerings

Restricted Corporate Stock

Unregistered Securities - Stock