From the Editor's Desk

Remember the SPAC Craze? More Than a Third of Them Have Liquidated Since 2020

New research from SPAC Track, an independent monitor of the SPAC market, suggests that the craze was ill-fated for more than a third of the companies that made the jump: Of the 986 U.S. SPACs that have IPO'd since 2020, 362 have liquidated, according to the research shared exclusively with Inc. 

As low interest rates and surging public markets set the temperature during the pandemic, investors sought an opportunistic approach, and SPACs became a lucrative fad between 2020 and 2021. This backdoor route -- when a public holding company is created with the sole purpose of acquiring a private company and taking it public -- accounted for 613 IPOs, or 59 percent of all new listings in 2021, according to Nasdaq.


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