Concern grows about overheated Spac IPOs

By Aidan Gregory
31 Mar 2021

A staggering amount of capital has been raised by special purpose acquisition companies this year, but there is growing concern that the glut in supply will lead to many of the vehicles overpaying for M&A targets or being unable to find companies to buy.

Spacs have raised more than $96.9bn globally so far this year, more than the $83.5bn raised during 2020, when the craze began, according to Dealogic data. Most of the volume has originated in the US.

To put these figures into perspective, over January to March, Spacs raised more than ...

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