What a falling off was there.
After the extraordinary boom in new special purpose acquisition companies (Spacs) in 2020, when 248 IPOs of blank-cheque companies raised $83 billion – up from 59 listings worth $13.6 billion in 2019 – the first quarter of 2021 saw a frenzy.
During the first three months of this year 320 Spacs went public raising $88.5 billion, with 100 in March alone in the US, plus another seven in Europe and Asia.
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