Great American Group Inc. said Monday that its acquisition by a special-purpose acquisition company had closed, which will enable the Woodland Hills liquidation firm to be publically traded.

Great American shareholders on Friday approved the roughly $175 million deal with Alternative Asset Management Acquisition Corp. of New York City. The combined company takes on the Great American Group Inc. name. B. Riley & Co. acted as financial advisor to Great American in the acquisition.

The company, which will continue to be based in Southern California, has made its name handling going-out-of-business sales for companies such as Circuit City, Mervyn’s and Tower Records.

Special-purpose acquisition companies, also known as SPACs or blank check companies, raise money through an initial public offering for the express purpose of acquiring companies not yet identified. The vehicle allows a targeted company to go public without the expense of mounting its own IPO. Los Angeles apparel maker American Apparel Inc. went public after being acquired by a SPAC in December 2007.

The common stock of Great American is expected to soon start trading on the OTC Bulletin Board under the symbol “GAMR,” the company said.