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The SPAC Boom and Subsequent Contraction Most of today’s de-SPACed companies are the result of the boom in SPAC fundraisings in 2020 and 2021, when there were 861 SPAC initial public offerings (IPOs), accounting for more than half of all IPOs in both years. 3 The SPAC IPO market began to wane in late 2021 and contracted further in 2022.
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