SPAC issuances amounted to roughly 50% of IPOs in June and July, down from 75% in the first quarter. They briefly dipped to 20% of IPO issuances in April, spooking those behind the trade’s surge in popularity.
But average SPAC deal size is climbing, sparking hope for SPAC-based ETF issuer Mark Yusko that these new investment vehicles still have legs, CNBC reports.
“The size of an IPO, whether it’s a traditional IPO or a SPAC, is absolutely a proxy for quality. And the size of the average SPAC has been rising. The size of the average IPO has been falling,” the CEO and chief investment officer of Morgan Creek Capital Management told CNBC’s “ETF Edge.” Read more.
