SPAC
ASSOCIATION

The SPAC association represents all key stakeholders involved in special purpose acquisition companies (SPACs) including: investors, sponsors, investment banks, law firms, auditors, accounting firms, other service providers, academics, nonprofits, trade associations and companies in the SPAC transaction ecosystem who wish to engage investors, sponsors, policymakers, and advisors with a united voice focusing on key issues that impact this industry. The SPAC Association is the industry voice for all stakeholders involved in US-listed SPACs.

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A SPAC is a company set up by investors with the sole purpose of raising money through an IPO (initial public offering) to eventually acquire another company. SPACs are created, or sponsored, by institutional investors, including private equity or hedge funds, and subject matter experts like former Chief Executive Officers of major global companies.

While SPACs have had a long market presence, the Industry has grown rapidly in recent years in response to the shrinking number of IPOs, the growth in the pipeline of large private companies driven by venture capital and private equity and increasing institutional investor interest in SPAC mergers. Since 2020, there have been nearly 600 domestic SPAC IPOs with over $200 billion in total proceeds. Thus far in 2021, there have been nearly 200 announced and closed transactions totaling around $500 billion in enterprise value. As of H1, 2021, SPACs accounted for 62% of all IPOs in the US excluding BDCs, Funds and companies below $50 million in market capitalization.

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Even more recently, Congress and various government agencies have focused their attention on SPACs, including examining how they operate, and very publicly pondering not when, but how to properly regulate these transactions.

The SPAC Association is the only organized voice engaging policymakers and representing

this critically important segment of industry in Washington D.C.