SPAC IPO Transactions Statistics

SPAC IPO Transactions – Summary by Year

For complete profiles on each individual SPAC IPO, please visit the SPAC Profiles page and click on a name.

Year	IPO Count	Gross Proceeds (mms)	Average IPO Size (mms)
2018	33	$8,222.5	$249.2
2017	34	$10,047.7	$295.5
2016	13	$3,499.2	$269.2

* Includes over-allotment proceeds
** Last updated September 23, 2018 9:15AM ET

Summary of Funds Raised

Hover over a data point to see yearly figures.

* 2018: as of September 23, 2018 9:15AM ET

SPACs Seeking a Target/Announced: Share Price vs. Time Left to Complete (Years)

* Updated daily

Redemption / Conversion Prices

Note: The data below is from the most recent 8-K or proxy statements. The price is subject to change until the final definitive proxy statement prior to the record date.

	Date of IPO	Proceeds in Trust at IPO ($mm)	Current Cash Held in Trust ($mm)	Current Pro Rata Per Share of Trust

Extended Completion Deadlines
Barington/Hilco Acquisition Corp.	May 5, 2015	$42.9	$6.8	$10.75¹²

Announced Transaction: Disclosed
Avista Healthcare Public Acquisition Corp.	October 11, 2016	$310.0	$315.8	$10.19⁹
Bison Capital Acquisition Corp.	June 19, 2017	$61.9	$62.9	$10.42¹⁸
Constellation Alpha Capital Corp.	June 19, 2017	$145.2	$147.0	$10.22¹
Draper Oakwood Technology Acquisition, Inc.	September 14, 2017	$57.5	$59.0	$10.26¹⁶
Easterly Acquisition Corp.	July 29, 2015	$200.0	$148.0	$10.41⁴
Federal Street Acquisition Corp.	July 18, 2017	$460.0	$464.1	$10.09⁸
Gores Holdings II, Inc.	January 12, 2017	$400.0	$404.6	$10.12¹⁴
Hennessy Capital Acquisition Corp. III	June 22, 2017	$259.2	$261.5	$10.23¹³
I-AM Capital Acquisition Company	August 16, 2017	$52.0	$52.9	$10.21⁵
Jensyn Acquisition Corp.	March 2, 2016	$40.4	$7.9	$10.85⁶
Kayne Anderson Acquisition Corp.	March 29, 2017	$377.3	$380.7	$10.09⁷
Landcadia Holdings, Inc.	May 25, 2016	$250.0	$235.8	$10.13³
Matlin & Partners Acquisition Corp.	March 9, 2017	$325.0	$328.3	$10.10¹⁰
Saban Capital Acquisition Corp.	September 15, 2016	$250.0	$217.0¹⁵	$10.19¹⁵
Stellar Acquisition III Inc.	August 8, 2016	$71.6	$37.2	$10.48²

Liquidating
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Announced Transaction: Not Disclosed
GTY Technology Holdings Inc.	October 26, 2016	$552.0	$561.1¹⁹	ND
Industrea Acquisition Corp.	July 26, 2017	$234.6	$236.7¹⁷	ND

1 – As of Preliminary Proxy filed 8/23/18
2 – As of Definitive Proxy filed 8/6/18

3 – As of Preliminary Proxy filed 8/31/18

4 – As of Preliminary Proxy filed (under Sirius International) 9/10/18

5 – As of 8-K filed 8/14/18

6 – As of Definitive Proxy filed 8/21/18
7 – As of Preliminary Proxy filed 8/27/18
8 – As of Preliminary Proxy filed 8/23/18

9 – As of Definitive Proxy filed 9/12/18

10 – As of Preliminary Proxy filed 9/13/18

11 – As of Preliminary Proxy filed 7/16/18. Cash in Trust as of 10-Q filed 8/10/18

12 – As of 8-K filed 7/9/18

13 – As of Preliminary Proxy filed 9/21/18
14 – As of Preliminary Proxy filed 9/17/18
15 – As of 8-k filed 9/21/18. Cash in Trust estimated post-redemptions
16 – As of Investor Presentation filed 9/5/18

17 – As of 10-Q filed 8/13/2018

18 – As of Investor Presentation filed 9/19/18
19 – As of 10-Q filed 8/9/18
** Source: SEC.gov

Annualized Rate of Return (ARR)

NOTE: “Separated Unit” equals the total of the close price of the share + warrant + right (if applicable). Example: unit purchased at IPO = $10.00. Current close price of: the share = $9.75; the warrant = $0.60. Value of the unit post-separation = $10.35

All data is sort-able by clicking on the arrow keys (Δ∇) in the column headers.

Universe: SPACs Seeking a Target

Date of IPO	Name	Symbol	ROI Separated Unit (IPO Value)	ARR Separated Unit (IPO Value)
2-Aug-2018	Tottenham	TOTA	-2.1%	-23.5%
25-Jul-2018	Greenland	GLAC	-2.2%	-19.5%
3-Jul-2018	Allegro	ALGR	-0.5%	-3.2%
28-Jun-2018	HL Acquisitions	HCCH	0.1%	0.6%
28-Jun-2018	New Frontier	NFC	2.4%	14.5%
20-Jun-2018	Twelve Seas	TWLV	-0.4%	-1.8%
20-Jun-2018	LF Capital	LFAC	2.0%	10.6%
19-Jun-2018	Thunder Bridge	TBRG	2.2%	11.5%
12-Jun-2018	Far Point	FPAC	2.7%	12.8%
8-Jun-2018	GS Acquisition	GSAH	3.6%	16.8%
29-May-2018	Trident	TDAC	1.6%	6.4%
16-May-2018	VectoIQ	VTIQ	1.9%	6.6%
15-May-2018	Trinity	TMCX	2.2%	7.6%
12-Apr-2018	Pure	PACQ	3.5%	9.3%
15-Mar-2018	Tiberius	TIBR	3.6%	7.9%
13-Mar-2018	Opes	OPES	2.2%	4.8%
27-Feb-2018	Union	LTN	1.3%	2.5%
16-Feb-2018	DFB Healthcare	DFBH	2.4%	4.5%
12-Feb-2018	Leo Holdings	LHC	3.1%	5.6%
7-Feb-2018	Mudrick Capital	MUDS	4.1%	7.4%
29-Jan-2018	MTech	MTEC	9.5%	16.7%
24-Jan-2018	Gordon Pointe	GPAQ	4.2%	7.1%
17-Jan-2018	One Madison	OMAD	3.1%	5.0%
11-Jan-2018	Platinum Eagle	EAGL	2.7%	4.2%
9-Jan-2018	Nebula	NEBU	1.8%	2.9%
7-Dec-2017	GigCapital, Inc.	GIG	3.3%	4.6%
1-Dec-2017	Leisure	LACQ	2.6%	3.5%
30-Nov-2017	Regalwood Global Energy	RWGE	3.3%	4.4%
20-Nov-2017	Big Rock Partners	BRPA	4.0%	5.2%
16-Nov-2017	Legacy	LGC	1.5%	1.9%
2-Nov-2017	Sentinel Energy	STNL	2.1%	2.5%
25-Oct-2017	CM Seven Star	CMSS	3.0%	3.5%
24-Oct-2017	Haymaker	HYAC	3.0%	3.5%
18-Oct-2017	Mosaic	MOSC	2.2%	2.6%
4-Oct-2017	Black Ridge	BRAC	3.7%	4.1%
14-Sep-2017	Draper Oakwood Technology	DOTA	5.1%	5.3%
13-Sep-2017	Social Capital Hedosophia	IPOA	5.1%	5.3%
15-Aug-2017	Capitol Investment	CIC	3.6%	3.4%
27-Jul-2017	Pensare	WRLS	2.0%	1.8%
26-Jul-2017	Industrea	INDU	5.7%	5.2%
27-Jun-2017	TPG Pace Holdings	TPGH	5.8%	4.9%
19-Jun-2017	Bison Capital	BCAC	4.4%	3.6%
1-Jun-2017	KBL Merger Co. IV	KBLM	3.1%	2.5%
11-May-2017	Modern Media	MMDM	4.4%	3.3%
10-Apr-2017	Vantage Energy	VEAC	4.8%	3.4%
18-Nov-2016	Hunter Maritime	HUNT	0.2%	0.1%
26-Oct-2016	GTY Technology	GTYH	5.1%	2.7%
15-Sep-2016	Saban Capital	SCAC	8.9%	4.4%
5-May-2015	Barington/Hilco	BHAC	8.1%	2.4%

High	9.5%	16.8%
Average	3.1%	4.1%
Median	3.0%	4.4%
Low	-2.2%	-23.5%

* All ROIs and ARRs calculated using closing prices as of August 31, 2018. Data updated monthly.
** IPO value = $10.00
*** ARRs for SPACs less than one year from IPO date are considered “projecting” and only provided as a reference.

Universe: SPACs Announced an Acquisition

Date of IPO	Name	Symbol	ROI Separated Unit (IPO Value)	ARR Separated Unit (IPO Value)
16-Aug-2017	I-AM	IAMX	8.0%	7.6%
18-Jul-2017	Federal Street	FSAC	9.0%	8.0%
22-Jun-2017	Hennessy Capital II	HCAC	10.3%	8.5%
19-Jun-2017	Constellation Alpha	CNAC	4.4%	3.6%
29-Mar-2017	Kayne Anderson	KAAC	7.9%	5.5%
9-Mar-2017	Matlin & Partners	MPAC	7.9%	5.3%
12-Jan-2017	Gores Holdings II	GSHT	9.7%	5.8%
11-Oct-2016	Avista	AHPA	2.1%	1.1%
18-Aug-2016	Stellar	STLR	6.9%	3.3%
25-May-2016	Landcadia	LCA	10.7%	4.6%
2-Mar-2016	Jensyn	JSYN	9.7%	3.8%
29-Jul-2015	Easterly	EACQ	9.8%	3.1%

High	10.7%	8.5%
Average	8.0%	5.0%
Median	8.5%	4.9%
Low	2.1%	1.1%

* All ROIs and ARRs calculated using closing prices as of August 31, 2018. Data updated monthly.
** IPO value = $10.00

SPAC Statistics