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1 INTRODUCTION The ease of access to finance is one of the crucial preconditions for successful functioning of the financial markets and economies (Demirgüç-Kunt & Maksimovic, 1998; Fazzari et al., 1988; Rajan & Zingales, 1998). The literature is still without a complete explanation of corporations' financing choices.
The financial world has changed. According to SPAC Research, by the end of 2020, more than 248 SPACs (special purpose acquisition company) have been listed in the U.S. (on Nasdaq or the NYSE), raising a record $83.4 billion. SPACs have already surged last year’s record in the first quarter of 2021, raising $98.1 billion. SPACs are emerging as the new IPO (or IPO 2.0), with fewer formal requirements and at a lower cost. Traditional IPOs are now under attack.
The financial world has changed. According to SPAC Research, by the end of 2020, more than 248 SPACs (special purpose acquisition company) have been listed in the U.S. (on Nasdaq or the NYSE), raising a record $83.4 billion. SPACs have already surged last year’s record in the first quarter of 2021, raising $98.1 billion. SPACs are emerging as the new IPO (or IPO 2.0), with fewer formal requirements and at a lower cost. Traditional IPOs are now under attack.
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.
