Bill Ackman’s SPARC (Special Purpose Acquisition Rights Company) offers a novel approach to public company acquisitions, differing from SPACs in key ways.

Unlike SPACs, where investors commit capital upfront, SPARC investors do not provide any initial funding.

Instead, they receive rights to invest after a target company is identified.

This reduces the risk of capital being tied up in uncertain deals, which can happen in SPACs.

SPARC's structure allows for greater flexibility and transparency in acquisitions compared to the traditional SPAC model.