Not only did we get a double order of SPACs tonight, but we got the meal with gravy.
Tonight, both New Frontier Corp. and HL Acquisitions filed to upsize their SPAC IPO offerings to cap off an extremely busy month on a high note. For reference, there have been seven SPAC IPOs, raising nearly $2.2 billion in the month of June alone.
For everyone keeping count, that makes 22 SPACs for the first half of 2018, with total gross proceeds raised of $5.52 billion.
New Frontier increased their offering by $20 million for a final size of $250 million, while HL Acquisitions will top out at $50 million after increasing their offering by $7.5 million.
That’s a total of $300 million raised tonight (before over-allotments) and a great way to end the quarter. Unless, of course, Allegro wants to make a go of it tomorrow?
Congratulations to all. Cheers.