In 2020, public attention was focused on special purpose acquisition companies – SPACs. 55% of all initial public offerings in the United States were initial public offerings conducted by special purpose acquisition companies. Special purpose acquisition companies is a company that is established with one goal – the acquisition of a private operating business within time frame of 18 to 24 months. The company does not have operating activities and raises the capital for the acquisition of a private company through an initial public offering. The aim of the paper is to identify the advantages and disadvantages of special purpose acquisition companies and to analyze the activities of special purpose acquisition companies in selected countries. Primary research gives a clearer picture of the familiarity and attitudes of the student population about special purpose acquisition companies. The results of the research indicate a poor knowledge of the student population about this type of companies. Based on the analysis of the activities of special purpose acquisition companies, it can be concluded that there has been a great increase in the number of special purpose acquisition companies in the United States, also the growth and development of special purpose acquisition companies occurs in Europe. The growth and development of special purpose acquisition companies is the result of the numerous advantages that these companies provide to investors, financial sponsor and companies (target companies).