ICR published their Q3 2020 SPAC Market Update which saw 183 active public SPACs holding more than $57 billion in cash as of September 30, 2020.
According to Don Duffy, President of ICR, “SPACs have transformed the go-public process and companies now have multiple choices including a traditional IPO, a Direct Listing or a SPAC. The market’s insatiable appetite for SPAC IPOs is really being driven by the potential alpha an investor receives in a low interest rate environment on what’s essentially a risk-free purchase at the time of the offering due to the ability to redeem shares and take your money back if you don’t like the eventual merger”.
The fourth quarter of 2020 is already has seen 22 new SPAC issuances just in the month of October.
10/9/2020 |
Social Capital Hedosophia Holdings Corp. VI |
IPOF.U |
$1,000,000,000 |
10/9/2020 |
Social Capital Hedosophia Holdings Corp. V |
IPOE.U |
$700,000,000 |
10/9/2020 |
Social Capital Hedosophia Holdings Corp. IV |
IPOD.U |
$400,000,000 |
10/9/2020 |
Landcadia Holdings III, Inc. |
LCYAU |
$500,000,000 |
10/8/2020 |
Petra Acquisition, Inc. |
PAICU |
$70,700,000 |
10/7/2020 |
Montes Archimedes Acquisition Corp. |
MAACU |
$400,000,000 |
10/7/2020 |
NextGen Acquisition Corporation |
NGACU |
$350,000,000 |
10/7/2020 |
TPG Pace Beneficial Finance Corp. |
TPGY.U |
$350,000,000 |
10/7/2020 |
TPG Pace Tech Opportunities Corp. |
PACE.U |
$450,000,000 |
10/7/2020 |
Empower Ltd. |
EMPW.U |
$250,000,000 |
10/6/2020 |
FirstMark Horizon Acquisition Corp. |
FMAC.U |
$360,000,000 |
10/2/2020 |
Avanti Acquisition Corp. |
AVAN.U |
$600,000,000 |
10/2/2020 |
Sports Entertainment Acquisition Corp. |
SEAH.U |
$400,000,000 |
10/2/2020 |
Apollo Strategic Growth Capital |
APSG.U |
$750,000,000 |
10/2/2020 |
ION Acquisition Corp 1 Ltd. |
IACA.U |
$258,750,000 |
10/2/2020 |
VG Acquisition Corp. |
VGAC.U |
$480,000,000 |
10/2/2020 |
Vy Global Growth |
VYGG.U |
$575,000,000 |
10/2/2020 |
Atlantic Avenue Acquisition Corp |
ASAQ.U |
$250,000,000 |
10/1/2020 |
IG Acquisition Corp. |
IGACU |
$300,000,000 |
10/1/2020 |
AEA-Bridges Impact Corp. |
IMPX.U |
$400,000,000 |
10/1/2020 |
Altimeter Growth Corp. |
AGCUU |
$500,000,000 |
10/1/2020 |
Recharge Acquisition Corp. |
RCHGU |
$202,000,000 |
“The increase of SPACs in the market is driving a critical need for experienced and integrated investor relations and public relations teams that understand the industry to create awareness of the transaction announcement, clearly articulate the combined company’s long term shareholder value creation strategy, manage through the de-SPAC process, and prepare management to succeed as a reporting public company,” said Phil Denning, Partner at ICR.
To read ICR’s Q3 2020 SPAC Market Update report please click here.