Despite fears that the SPAC boom is over, many US blank-check firms are continuing to see their shares soar, including risk analytics firm Open Lending, sports gaming startup Draftkings, and gadget retailer Betterware de Mexico, which have all doubled in value over the past year, reports German news organization Deutsche Welle.
European interest in SPACs has also been heightened by domestic startups becoming prey for US-based blank-check companies. They include Germany’s air taxi manufacturer Lilium and the biotech company Immatics, who have already been merged into SPACs listed on the Nasdaq.
With competition intensifying, 17 European SPACs are being prepared for this year, worth $2.2 billion, according to market data firm Pitchbook.
Amsterdam has, so far, beaten off competition from other European markets to launch the most SPAC IPOs as its regulatory environment is the most similar to the US. Britain, meanwhile, is set to announce reforms that will allow London to be a hub for SPAC listings. Read more.