Calcbench Unlocks SPAC data from their filings
Calcbench, the leading interactive, financial research platform for data-intensive analysts, today announced the release of its SPAC whitepaper. The paper provides an in depth view of SPACs: how many are filing, the amount of assets on their balance sheets, and how many have de-SPACed and into what industries. In addition, the paper pulls from various SPAC disclosures to understand what SPACs are reporting and how they are progressing against acquisition deadlines.
SPACs — special purpose acquisition companies, or “blank check companies,” as they are commonly known — are publicly traded holding companies with no substantive operations. They exist to hold investor money in trust, and are then used to acquire a private operating company. That essentially takes the private operating company public, without the burdens of the traditional IPO process. The catch with SPACs is that they must complete an acquisition transaction within 18 to 24 months, or give the money back to investors.
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Although the number of SPAC firms is not at an all-time high (that happened in 2011), total SPAC assets have ballooned to $190 billion, a significant jump from the nearly $50 billion in Q4 2020. So it’s no surprise that SPACs are gaining traction in the capital markets, and consequently are receiving increased attention from regulators looking to tighten protections for investors.
“Given pressure to put SPAC money on the books to work, we expect to see a lot more money flow into merger deals and deSPAC transactions,” says Pranav Ghai, co-founder and CEO of Calcbench. “The good news is that with Calcbench’s unique identifier you can track SPACs from their birth to their afterlife. You can see which operating companies exist today and those that were SPACs in the past, to get valuable insights.”
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SPACs have been around for nearly 30 years, and there is an abundance of data about them for those who know where to look. Under SIC code 6770, there are more than 350 SPAC firms with current financial statements. Through the first half of 2021 more than 40 deSPAC transactions were reported.
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