Speculative
Profit
Acquisition
Company
A blank cheque company that never found a company. So the mandate was widened.
The mandate was widened.
The Company was formed to effect a merger, share exchange or asset acquisition with one or more operating businesses. It reviewed the field and elected to acquire memes.
- 1
Raise first, decide later
A blank cheque company sells shares before it owns anything. The money arrives against a promise to go and find a business worth buying.
- 2
Most never find one
The mandate runs, the clock runs out, and the vehicle liquidates having acquired nothing. This is the ordinary outcome, not the failure case.
- 3
We stopped treating that as a problem
The Company has no operating target, no pipeline, and no intention of building either. What it has is a tax, a treasury, and a very short list of things worth owning.
So we acquire
memes instead.
A company that only does one thing, four times.
There is no second business line, no roadmap, and nothing to build. The entire enterprise is this circuit, running until it stops.
- 1
Trade
Every buy and every sell pays three percent. There is no way to hold an opinion about this token that does not fund the facility.
- 2
Build the treasury
The acquisition share of that tax collects and sits there. It does nothing at all until it is large enough to be worth doing something with.
- 3
Acquire
The facility buys a Robinhood Chain meme. Which one is a matter of public argument, and then it is a matter of public record.
- 4
Distribute
The acquired tokens go out to eligible holders. The Company keeps the press release and gives away the position.
- Repeat
The memes in our basket.
Instead of betting on one meme, $SPAC acquires the culture. Five tickers, every one of them a live contract on the chain.
CASHCATLargest holder base in the basket. The Company likes a crowded trade.
WOOFA dog in a hood on a broker's chain. Thesis writes itself.
TENDIESThe only holding with a clearly defined exit: lunch.
PIPEDOGConducts its own due diligence. The Company respects that.
STONKBROKERDirect competitor. Acquiring it is cheaper than out-competing it.
Contracts verified onRobinhood Chain, chain 4663Every ticker links to its address on the explorer.
Three percent, each way.
Buying pays 3%. Selling pays 3%.
Where each three percent goes
- 2%
- Accumulates until it is large enough to take a position. This is the part that buys things.
- 0.5%
- Returned to the pool so the thing you are trading remains a thing you can trade.
- 0.5%
- Listings, tooling, and the running cost of maintaining a company that acquires nothing of substance.
Acquisition facility
Liquidity
Operations
One man. Eight seats.
Led by SPAC Man, a spiritually overqualified retail investor from the 2021 SPAC era. He holds every position on the board and has never once recused himself.
Chief Executive Officer
Has not identified a target. Remains confident.
Chief Investment Officer
Screens four hundred tickers a week. Has never approved one on the first pass.
Head of Origination
Walking to a meeting that was cancelled in 2021.
Chairman of the Board
Delegates.
Chief Compliance Officer
Has read the tax logic twice and has notes.
Investor Relations
Reachable on every channel. Replies on none.
Chief Strategy Officer
Believes the treasury should buy the one that goes up.
Head of Treasury
Acquisitions greater than inflation.
No revenue.
Questionable fundamentals.
Aggressive acquisitions.
Questions the Company anticipates.
Everything the Company would be asked in a room it will never be invited into, answered in advance and at its own expense.
What business does the Company intend to acquire?Memes. The mandate was widened once, from operating businesses to memes, and it will not be widened again.
Which memes?The ones that are working. Selection is public, argued about in the open, and revocable. The current basket is listed above with contract addresses.
What happens to what the treasury buys?It is distributed to eligible holders. The Company keeps the announcement and gives away the position.
What if the treasury acquires something that goes to zero?The Company will describe this as a strategic repositioning and carry on. No acquisition carries a guarantee, and several of them will not work.
Is there a product beyond this?No. There is a tax, a treasury, and a distribution. Anything further would be scope creep, and scope creep is how a blank cheque company ends up owning a car wash.
Who is SPAC Man?A spiritually overqualified retail investor from the 2021 SPAC era. He holds all eight board seats and takes the minutes himself.
Does the Company hold anything back?There is no team allocation dressed up as a treasury and no private round. The tax is the whole mechanism and it is visible on every transfer.
How does anyone check the Company's work?Every address on this page links to the block explorer. Nothing about the treasury happens off-chain, so nothing about it has to be taken on trust.