SPACs Lead to Record-shattering IPOs

SPACs (Special-purpose acquisition companies) are shell companies for the sole purpose of raising funds to acquire a private company and then take it public. This effectively sidesteps the traditional IPO. Due to the rise of SPACs, global companies have raised a record $248 billion. In another record, the total global IPO listings have surpassed 1,050 this year.

We’re excited to see the results of this SPAC boom and the onslaught of new tech players that come with it.