Anyone know what is a SPARC? What is its benefits n purpose?

Ackman’s SPAC to Buy 10% of Vivendi’s Universal Music for $4 Billion

(Bloomberg) -- A blank-check firm backed by billionaire Bill Ackman agreed to acquire 10% of Univers
Ackman’s SPAC to Buy 10% of Vivendi’s Universal Music for $4 Billion

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