SPACs – Sunshine or a Flash of Lightning

2020 was the year of SPACs. Yes, Special Purpose Acquisition Companies, a public listing method that lit up the 1990s but fizzled in the years that followed. Until 2018, when it made a striking comeback. Why did they suddenly become so popular? What is it about them that has caught the attention of modern investors? That is what this white paper will answer. Here’s SG Analytics’ take on the modern rise of SPACs.

Key Highlights

  • In 2019, SPAC IPOs raised $13.6 billion in gross proceeds, driving more capital than in any prior year
  • Significant improvement in quality of sponsors – most SPAC sponsors today are either C-Suite operating executives from big companies, well-established investors, or headline names that bring real investment capabilities
  • M&A market is still strong and SPACs should definitely remain in vogue in the medium term
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