SPAC activity in Q1 reached the lowest point since early 2020, with only 78 listings and the median deal size cut in half compared to last year, PitchBook reports. Meanwhile, aftermarket performance is suffering among SPAC combinations initiated amid the elevated valuation climate of the past two years, as high-growth sectors are revalued in the public markets.
The macroeconomic headwinds for the once-manic SPAC market look to be substantial, and the outlook is uncertain for both new listings and mergers. PitchBook’s Q1 SPAC Update and Performance analyst note tracks current SPAC market activity and introduces an index to track public performance of deSPAC combinations after the mergers have been completed. Read more.
