The SPAC bubble burst in the second quarter of 2021 after four consecutive quarters of growth, though the number of SPAC IPOs rose to *** in the fourth quarter of 2021. However, the peak of the SPAC boom was reached when SPACs raised capital in *** IPOs in the first quarter of 2021. In April 2021, the U.S. Securities and Exchange Commission (SEC) brought in new accounting rules for SPACs, which likely played a role in the drop in new SPAC IPO filings.

What are SPAC IPOs?

A special purpose acquisition company (SPAC) is a corporation formed for the sole purpose of raising investment capital through an initial public offering (IPO). The value of SPAC IPOs globally reached a record-high in February 2021, amounting to over ** billion U.S. dollars. IPO underwriters are necessary to act as brokers between the issuing company and the investing public, and are usually investment banks. They essentially help the issuing company sell its initial set of shares. As of September 2021, the largest underwriters of SPAC IPOs globally were Citigroup, Goldman Sachs, and Credit Suisse.

SPAC IPOs in the United States

The number of SPAC IPOs in the United States has increased significantly in recent years. As of October 2021, SPACs had raised capital in a record number of IPOs. At the same time, the value of SPAC IPOs raised in the U.S. also peaked - amounting to a value of over *** billion U.S. dollars. When compared to Europe, the vast majority of global proceeds from SPAC IPOs was raised in the United States.

Approximately **** times more SPAC IPOs were completed in South Korea compared with Mainland China in 2020. The number of SPACs listed reached ** in South Korea making it the Asia-Pacific territory with the highest number of SPAC IPOs in that year. Meanwhile, almost *** SPAC IPOs took place in the United States in the same year. A special purpose acquisition company (SPAC) is a company with no business operations which is set up for the sole purpose of raising capital through an initial public offering with the goal of buying an existing company.

Between 2019 and the first quarter of 2022, there were total of ** special purpose acquisition (SPAC) IPOs in Europe. Luxembourg and the Netherlands were leading the ranking as the main two issuer nations, with ***** listings each. France ranked third in Europe, with *** SPAC IPOs.

2020 was the year of the SPAC, at least in the United States. The rapid increase in the number of IPOs via special purpose acquisition companies also led to an increase in lawsuits in the area from the third quarter of 2020. In January 2021 alone, there were ***** lawsuits compared with ** in the previous three months. This mirrors the timeline of the rise in the number of SPAC IPOs.

Shenzhen: Floor Space Pre Sold: Year to Date: Outside Special Zone (OS) data was reported at 2,508.100 sq m th in Dec 2010. This records an increase from the previous number of 2,247.100 sq m th for Nov 2010. Shenzhen: Floor Space Pre Sold: Year to Date: Outside Special Zone (OS) data is updated monthly, averaging 1,872.200 sq m th from Oct 2005 (Median) to Dec 2010, with 53 observations. The data reached an all-time high of 4,688.800 sq m th in Dec 2006 and a record low of 200.300 sq m th in Jan 2008. Shenzhen: Floor Space Pre Sold: Year to Date: Outside Special Zone (OS) data remains active status in CEIC and is reported by Urban Planning, Land & Resources Commission of Shenzhen Municipality. The data is categorized under China Premium Database’s Real Estate Sector – Table CN.RK: Guangdong: Shenzhen Property.