Mon, Sep 18, 2023
Special Purpose Acquisition Companies – Half Year 2023 Highlights
The SPAC market experienced a 76% decline in IPOs in the first half of 2023 (H1 2023) compared to the first half of 2022 (H1 2022) and a record number of liquidations during the period. The average gross IPO proceeds fell from about $172 million in H1 2022 to $118 million in H1 2023. Additionally, 123 liquidations occurred in H1 2023, compared to only seven in H1 2022. The average redemption rate also increased during the period.
SPACs are facing many challenges, including disappointing performance by newly de-SPACed companies, SEC scrutiny, an uncertain economic outlook, and rising interest rates. As of June 30, 2023 there are about 219 SPACs searching for targets.
Our Special Purpose Acquisition Companies – Half Year 2023 Highlights report aims to identify trends and provide insights across the SPAC market, focusing on key themes, issues and opportunities. Download the report to learn more.
Fairness Opinions
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Solvency Opinions
Duff & Phelps Opinions practice is a globally recognized leader in solvency opinions. Since 2005, we have rendered more than 2,585 fairness and solvency opinions for transactions with an aggregate deal value of over $8 trillion.
Mergers and Acquisitions (M&A) Advisory
Kroll’s investment banking practice has extensive experience in M&A deal strategy and structuring, capital raising, transaction advisory services and financial sponsor coverage.
