SPACs by the Numbers
- As of September 2020, there had been 58 initial public offerings of SPACs in the U.S. in the third quarter alone, raising just over $25 billion. This year’s record haul is more than half of all the previous years combined, dating all the way back to 1995. With more private companies willing to sell to SPACs in 2020, the underlying deal fundamentals are improving.
- The average deal size in SPACs M&A is also on the rise. This year’s average deal size of more than $991 million edges out 2017’s average deal size of $981 million and 2018’s $954 million.
- In 2020, 95 stock listings have generated $37 billion so far, compared to 59 stock listings that raised $13.5 billion in 2019, and 46 listings that produced $11 billion in 2018.
- There are nearly $54 billion in total announced deals that have not yet closed.
- There’s an estimated 150 newly formed SPACs that are searching for targets.