An initial public offering (IPO) in which the issuing company doesn’t disclose how it will use the offering proceeds. That is, the proceeds of the offering are typically invested in unspecified business opportunities. In essence, blind pools have no operations but go public for the purpose of merging with, or acquiring, another company with the proceeds of the IPO, subject, of course, to shareholder approval.
Blind pools are also known as blind pool companies.
