Comparison between SPAC activity in the U.S. and Europe 2015-2021

The annual number of SPAC IPOs completed has steadily increased between 2015 and 2021 in the United States. In Europe, SPAC IPOs remained relatively rare, with the highest number of completed SPAC IPOs being reported in 2017. Meanwhile, the U.S. is experiencing a boom in both the number and volume of money raised by SPACs. Special purpose acquisition companies are public companies with neither a specific business plan, nor a product or service to sell. The specific purpose of SPACs is to raise capital and then merge with, or acquire a private company. An initial public offering (IPO) refers to the process of a private company obtaining capital by offering shares through the primary market.