SPACs are making big moves. This past week, sports betting platform DraftKings (DKNG) entered the public market through a SPAC merger, and Chamath Palihapitiya’s Social Capital Hedosophia II (IPOBU) and III (IPOCU) raised a combined $1 billion. Blank check IPOs have hit record numbers in recent years, and large offerings have attracted bulge bracket underwriters, well-known IPO advisory firms, strong management teams, and high-profile acquisition targets. More companies than ever are choosing to list via SPAC merger, with 28 public mergers in 2019, up from 18 in 2018. In short, SPACs have gone mainstream.
Read the full article and screen for recent SPACs - sign up for a free trial of IPO Pro.
See Full Article with Free Trial of IPO Pro
The article How SPACs went mainstream 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.
