According to Pitchbook, the number of SPACs that have merged with non-U.S. companies has risen six quarters running, Sportico reports. In Q2, nearly one in five completed SPAC transactions (17 out of 91) was with a foreign business (up from 13% in Q1).
That trend has not taken hold within the sports and entertainment sector, though. Just two SPACs formed within the last year combined with an international company: Sports Entertainment Acquisition Corp merged with Super Group and dMY Technology Group II merged with Genius Sports. But conversations with a trio of SPAC sponsors — including Acies Acquisition Corp. and Acies Acquisition II co-CEO Dan Fetters — indicated that could change over the next 12 months.
“People will go further afield from their core knitting as the shot clock winds down,” he said. Read more.