Special purpose acquisition companies are continuing their blockbuster year, with dollars raised in 2020 already beating the total from the previous 10 years combined, according to data from Bloomberg. And with more than two months remaining in the year, the number of transactions has doubled the record set last year.
The boom is likely to continue as SPACs are increasingly seen as a more predictable way to go public in a volatile year than through a traditional initial public offering. A number of high-profile listings through the SPAC route, along with the participation of more prominent market players, has also helped to shine the spotlight on SPACs as a credible way to go public.
