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Expand chart
Data: Dealogic; Chart: Thomas Oide/Axios

SPACs are outpacing traditional IPOs in 2021.

Driving the news: 562 SPACs (special purpose acquisition vehicles) went public on U.S. exchanges between January and November, compared to 373 regular companies, according to data from Dealogic.

  • SPACs raised $151 billion in their IPOs, while traditional issuers raised $148 billion.

The big picture: SPACs owe most of their lead to the first quarter, when it felt like every VC, private equity and hedge fund manager was raising a SPAC for easy money optionality. Things have since begun to equalize a bit, but last week brought a dozen SPAC IPOs and no traditional ones.

The bottom line: SPACs seem to be here to stay as a viable IPO alternative.

Go deeper

Dan Primack, author of Pro Rata
Dec 6, 2021 - Economy & Business

SPACs are beating out traditional IPOs in 2021

Expand chart
Data: Dealogic; Chart: Thomas Oide/Axios

SPACs are outpacing traditional IPOs in 2021, according to data from Dealogic.

By the numbers: 562 SPACs went public on U.S. exchanges between January and November, compared to 373 regular companies. SPACs raised $151 billion in their IPOs, while traditional issuers raised $148 billion.

Supreme Court agrees to hear challenge to affirmative action at Harvard, UNC

Photo: Al Drago/Getty Images

The Supreme Court on Monday agreed to hear a pair of cases challenging the consideration of race in the college admissions processes.

Why it matters: The conservative high court's ruling could determine the future of affirmative action in higher education.

Europe's energy reliance on Russia is a crucial shield for Putin

Photo: Pavel Bednyakov/Sputnik/AFP via Getty Images

Cracks in the NATO alliance regarding sanctions for Russia should President Vladimir Putin order troops into Ukraine are in large part based on energy supply concerns.

Why it matters: Russia holds tremendous leverage over some European countries because it provides roughly 40% of Europe's natural gas supply. In Germany, this figure is greater than 50%.