Statistics
Since 2003 approximately $20.4 billion of SPAC capital has been raised and 158 SPACs have been funded in the United States. Of the 161 SPACs that have been raised in the United States, 72 SPACs accounting for $6.5 billion have completed an acquisition with annualized returns to investors of -1.2%. Approximately 17 SPACs accounting for $3.4 billion have announced transactions with annualized returns to investors of -15%. Approximately 23 SPACs accounting for $6.5 billion are currently seeking an acquisition with annualized returns to investors of -16%% and 49 SPACs accounting for $4.47 billion have liquidated with annualized returns to investors of about -2.5%.
On December 7, 2007, approximately $1.23 billion worth of SPACs went public, setting a new one-day record. The three SPACs that went public raising $1.23 billion were Liberty Acquisition Corp. (NYSE MKT: LIA) which raised $900 million in an offering led by Citigroup and Lehman Brothers, Global Brands Acquisition Corp. (NYSE MKT: GQN) which raised $250 million in an offering led by Citigroup, and Tremisis Energy Acquisition Corp. II (NYSE MKT: TGY, led by Lawrence S. Coben) which raised $76 million in an offering led by Merrill Lynch and EarlyBirdCapital.
81 SPACs are currently on file with the SEC, representing over $13.4 billion in future financings and 39 SPACs have been filed with the SEC since January 1, 2008, representing over $6.7 billion filed this year.
Read more about this topic: Special-purpose Acquisition Company
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—E.E. (Edward Estlin)
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—Karl Shapiro (b. 1913)