U.S. SPAC IPOs Priced per Month

## What this measures

How many special purpose acquisition companies sold shares to the public in the month, dated by their first final prospectus.

## Why it matters

SPAC IPOs show how much money sponsors can raise for future mergers. Their boom and bust is one of the clearest speculative cycles in recent capital markets.

## How to read it

Higher means more blank-check vehicles are listing. Read it with operating-company IPOs (ipo.us.priced.monthly) and the share (ipo.us.spac_share.quarterly).

## What it does not say

It counts listings, not trust money raised. SPACs that list under an operating-style name with no blank-check SIC code and no later shell exit can be missed.

## How it's built

An IPO here follows the rule of Palanor's U.S. IPO count (ipo.us.count.quarterly): the first final prospectus (Form 424B4 or 424B1) of a company that had filed no annual or quarterly report before it, leaving out funds, asset-backed issuers, multi-registrant debt filings and companies with no sign of a U.S. exchange listing. SPACs are identified by SIC code 6770, a blank-check name at filing, or a later 8-K reporting the end of shell status confirmed by a unit listing. Counted here are the first final prospectuses classified as SPACs. The month in progress is left out until it ends.

## Source

U.S. Securities and Exchange Commission, EDGAR full and daily form indexes (sec.gov/Archives/edgar), company filing histories (data.sec.gov submissions) and EDGAR's bulk submissions file. Public domain: "Information presented on sec.gov is considered public information and may be copied or further distributed by users of the web site without the SEC's permission" (SEC website dissemination policy, sec.gov/about/privacy-information).