IPOs

The record boom in blank-cheque firms could make 2021 the year of the Spac

Goldman Sachs says that Spacs could generate more than $700bn in acquisition activity in the next two years

Goldman Sachs’ chief US equity strategist, David Kostin, one of the authors of a report by the bank tracking the recent boom in Spacs
Goldman Sachs’ chief US equity strategist, David Kostin, one of the authors of a report by the bank tracking the recent boom in Spacs Photo: Victor J. Blue/Getty Images

The boom in special purpose acquisition companies – or Spacs – is set to continue and this year looks on track to be a record one, says Goldman Sachs.

In a note on 1 March, “SPAC Almanac: Bigger, louder, faster”, the US investment bank tracked the recent boom in Spacs – also known as blank-cheque companies – since the beginning of the pandemic.

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