Harvard Ave Acquisition Corporation (HAVA)

Harvard Ave Acquisition Corporation is a special purpose acquisition company, also called a blank-check company. It was formed to raise capital through an initial public offering and then use those proceeds to complete a merger, share exchange, asset acquisition or similar business combination with one or more operating businesses.

Like other SPACs, the company has no operating business of its own. Funds raised in its public offering are held in a trust account until a business combination is completed or the company is liquidated, and shareholders generally have the right to redeem their Class A ordinary shares in connection with a proposed deal. Its Class A ordinary shares trade on the Nasdaq under the ticker HAVA.