ICR Publishes Q3 2020 SPAC Market Update

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

.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 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 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.