The Pulse of Private Equity – 9/27/2021

SPAC IPOs are down, SPAC acquisitions are up


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SPAC IPO volume is down considerably in mid-2021. A decline was probably inevitable, considering how massive Q1 volume turned out to be. Between Q1 and Q2, a new PitchBook analyst note shows a 67% decline in SPAC IPO count and 81% fall in aggregate value. Over the last few months, potential litigation issues began popping up; whether they’re spurious or not depends on future SEC opinions. Until more clarity surfaces, legal headaches represent a potential headwind to the SPAC frenzy and could make investors think twice going forward.