A form of specified purpose acquisition company (SPAC) whereby a blank check company would raise a minimal amount of funds (e.g., $5 million) to qualify for a Rule 419 exemption, and avoid shareholder reconfirmation of investment, short time limit, and mandatory industry focus. Junior SPACs would be suitable for a market of smaller companies that larger SPACs cannot and do not target. Creating a smaller blank check company rather than a Form 10-SB shell would allow investors to mark their investments to market in some practical way.