Last year, before the slowdown in SPAC activity, many in the deals universe had already begun to express concern about the pace of de-SPAC deals: Hundreds of post-IPO SPACs were searching for private targets with which to merge, Bloomberg Law reports.
As of June 9, there are 592 pre-deal SPACs yet to announce de-SPAC transactions; 119 SPACs with pending announced deals; and a grand total of 373 de-SPAC deals that have closed since 2016, according to SPAC Research.
Of the 592 pre-deal SPACs, 273 had IPO’d on or before the date of my May 2021 article. At that time there were 423 active SPACs with no deal announcements. So, roughly 65% of those same SPACs that were active a year ago are still categorized as being “pre-deal.” Read more.
