SPAC merger profit

Asalaamalaykum Mufti Fataz,

If I purchased shares in CCIV SPAC above par value and the merger actually happens (seems it will) then are any of the profits halal or any/all parts need to be purified?

JazakAllah khayr and Allah reward you for your hard work.

Wa alaykum salaam,

Are you aware of Islamicly’s screening of this particular SPAC when you invested?

I’m aware Islamicly allow investments into SPACs but having read your article slightly confused as it seems IFG view differs.

Wa alaykum salaam,

Islamicly use a similar screening criteria but there could be differences in the recognition of some assets.

It is fine to follow Islamicly’s view on a SPAC.

JazakAllah khayr Mufti Faraz.