Fri, Apr 12, 2024

Special Purpose Acquisition Companies—2023 Year End Review and 2024 Outlook

/en/our-team/robert-bartell

Bob Bartell, CFA

/en/our-team/mark-kwilosz

Mark Kwilosz

/en/our-team/stephen-burt

Stephen Burt

/en/our-team/christopher-janssen Christopher Janssen

Chris Janssen

/en/our-team/jennifer-terrell

Jennifer Terrell

/en/our-team/raphael-newman Raphael Ray Newman

Raphael (Ray) Newman

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The SPAC market experienced a 64% decline in IPOs in 2023 compared to 2022 with a record number of liquidations. The average gross IPO proceeds fell from about $159 million in 2022 to $125 million in 2023, and liquidations increased from 145 to 197. The average redemption rate also increased during the period. As of December 2023, there were 127 SPACs searching for targets.

Special Purpose Acquisition Companies: 2023 Year End Review and 2024 Outlook

Some of the factors that negatively impacted the SPAC market include disappointing performance by newly de-SPAC’d companies, SEC scrutiny, an uncertain economic outlook and rising interest rates.

Download our Special Purpose Acquisition Companies: 2023 Year End Review and 2024 Outlook to learn more.

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