ICR today released its Q2 SPAC Market Update report, which shows IPO issuance in the second quarter normalized following the record activity seen in the first quarter of 2021, with 60 SPACs raising $12.8 billion, an increase of 160% and 60%, respectively, when compared to the second quarter of 2020, when 23 SPACs raised $8 billion. In addition, nearly 300 SPACs were on file with the SEC to raise more than $70 billion as of June 30, 2021.
“SPAC IPO issuance returned to a more sustainable level in Q2 from the record pace in Q1,” said Lee Stettner, Co-Head of Capital Markets at ICR Capital. “We continue to see the SPAC IPO issuance market shift toward serial SPAC sponsors and PE-backed SPACs as investors recognize these organizations have large deal teams, strong deal flow, substantial capital to invest and M&A expertise.” Read more.
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