ANALYSIS: 400+ Trading U.S. SPACs Still Seeking Merger Targets

Special purpose acquisition companies (SPACs) are entering into agreements to merge with private targets (“de-SPAC” transactions) at a steady pace. But based on the number of active SPACs still seeking targets, this pace could prove too slow.

After reaching a peak of 37 de-SPAC transactions in February, monthly de-SPAC deal counts have now settled at numbers in the teens and twenties. The average monthly de-SPAC deal count for all of 2021 through the end of August is 22.8 deals. This pace puts pressure on the nearly 450 active SPACs that need to sign merger deals in time for their own ...