IPOs

2020 is officially the busiest year ever for SPACs as deal count reaches a new high

With three SPAC offerings completed yesterday, the number of year-to-date SPAC IPOs has now exceeded the previous year's record breaking count. So far in 2020, 60 SPACs have raised $22.5 billion, all-time highs for both count and proceeds with nearly five months to go.

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This latest record adds to the growing list of milestones for 2020 SPACs:

  • The largest SPAC ever to go public: Pershing Square Tontine (PSTHU)
  • The largest announced SPAC merger: Churchill Capital III (CCXXU) and MultiPlan ($11 billion)
  • The first-ever SPAC IPO of common shares: Therapeutics Acquisition (TXAC)
  • The best first-day pop for a SPAC: Therapeutics Acquisition (TXAC; +20% pop)
  • The most SPAC proceeds raised in a year: $22.5 billion, with nearly five months to go
  • The 3Q20 is the biggest quarter ever by deal count and proceeds
  • More companies choosing SPAC listings over IPOs


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The article 2020 is officially the busiest year ever for SPACs as deal count reaches a new high originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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