Analysis

SPACs Power Another Record-Breaking Month For IPOs

Law360 (March 1, 2021, 9:00 PM EST) -- The boom in special purpose acquisition companies along with nearly three dozen debuts for operating businesses powered another record-breaking month in February for initial public offerings, setting up a likely busy March for capital markets lawyers.

Some 132 issuers went public in February, including 98 SPACs, raising more than $37 billion in proceeds, according to figures compiled from Nasdaq's website and research firm Renaissance Capital. February's output of SPAC offerings and traditional IPOs was the highest ever for one month, according to Renaissance Capital, topping a furious January that produced 117 offerings.

SPACs have been on a tear since the early...

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