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Virgin Shell

A company that is in the development state. In its business plan, the company’s aim is to merge with some...

Grandfathered Shell

A shell company or a blank check which was crated and taken public prior to the passage of Rule 419...

Forward Triangular Merger

A merger in which the acquirer creates a wholly owned subsidiary into which the target company merges (the latter does...

Domestic Shell Company

A shell company that conducts business transactions such as currency and asset transfers within the borders of its country of...

Clean Shell

A shell company that has no liabilities or other claims against it as perceived by an operating business contemplating merging...

Cash-and-Carry Shell

A shell company that is offered for sale in return for cash. Usually, this is the case when the owners...

Cram-Down Deal

In the context of mergers and acquisitions (M&As) or leveraged buyouts (LBOs), it is a deal in which a party...

Shell Merger

A merger with public shell companies. Shell mergers are typically reverse mergers effected with a publicly held company that has...

Blank Check

A development stage company that has no specific business plan or whose business plan is confined to merging with or...

Reverse Triangular Merger

A reverse merger in which the public shell company forms a new shell subsidiary (wholly owned subsidiary), which is merged...