The SPAC arrow, visualized – WSJ

PSPCs raise more money and outnumber traditional IPOs, according to a review of genealogical data. These “special purpose acquisition companies” have raised $ 38.3 billion since the start of 2021, compared to $ 19.8 billion through traditional IPOs.

The graph below reveals how quickly the PSPC craze has grown. It shows the money raised by every IPO in the US and every SPAC since the start of 2019, as tracked by Dealogic.

Some high profile PSPCs, such as those that later merged with Nikola and Virgin Galactic, do not appear below because the blank check companies involved went public before 2019.

Many of these PSPCs have not yet identified a fusion target, as indicated by those in pale green.