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Special Purpose Acquisition Companies (Spacs), which use the IPO market to raise funds for acquisitions, have proven their ability to weather the current market turbulence.
As of May 21, 26 such IPOs had come to market in the US this year – indicating that 2020’s Spac IPO volume could well match, if not beat, that of 2019.
It is a good result for Spacs, which, in a previous incarnation, had fared poorly during the 2008 financial crisis.
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