Special Purpose Acquisition Companies (SPACs) are one of the most exciting & disruptive capital markets themes over the past several years. Along with an increase in the number of SPAC IPOs, larger deal sizes and high-profile sponsor teams are drawing investors to this once underfollowed market. However, with little research and information available on publicly-traded SPACs, investors are often left wondering how they can efficiently access a market that has traditionally been dominated by institutional investors.   

The solution? The SPAC and New Issue ETF (NYSE: SPCX), the first actively-managed SPAC ETF. SPCX gives investors exposure to a broad portfolio of SPACs with the familiar attributes of an exchange traded fund’s diversity, tax-efficiency and liquidity.

What is a SPAC?

Acquisition within two years

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Reverse Merger

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A sponsor team raises a blind pool of cash to combine with a private operating company. The structure gives public investors access to a top tier sponsor that is highly incentivized to generate excess value through sourcing a unique business combination opportunity.

(Source: Bank of America)

SPAC Issuance Accelerates through 1Q21

$81.5 Billion Raised in 2020
$97 Billion Raised in 1Q21

(Source: Citi)

SPAC IPO Sizes >$300M since 2018

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2018

%

2019

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2020

(Source: Citi)

How is a SPAC Structured?

A brief explanation of the basic plumbing

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Stages of a SPAC

How it all comes together

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Why do a SPAC?

From a Sponsor’s and Seller’s point of view

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Potential Benefits of Going Public via a SPAC

Why more companies are taking this disruptive path to market

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How to Invest

The SPAC and New Issue ETF (NYSE: SPCX), the first actively-managed SPAC exchange traded fund. SPCX offers a simple yet institutional-level solution to help investors of all types navigate an often complicated SPAC landscape. 

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