Going public through a special purpose acquisition company is officially mainstream. Special purpose acquisition companies, once looked down upon by Wall Street-types as a less respectable way to go public, have been forming and going public at an unprecedented pace this year.
According to SPAC Insider, 298 SPACs have had an initial public offering so far this year, raising more than $97 billion in gross proceeds. While last year was considered a record year for SPACs, this year has already shattered that record.
And in the past year, the companies going public are no longer the under-the-radar types. Well-capitalized companies with brand-name recognition, like genetic testing company 23AndMe and online real estate buying platform Opendoor, are among the companies that have gone public or announced their intent to go public through a SPAC.
Here at Crunchbase News, we keep a running list of the companies that have gone public this year. In the past, it’s mostly been comprised of IPOs, although there have been direct listings here and there. This year, we began keeping track of SPACs that completed their mergers and began trading.
With SPACs forming and going public every day, it seemed wise to keep track of the companies that had announced they agreed to go public via SPAC as well. The announced SPAC targets, if you will. So, we scoured news reports and press releases and compiled a list of the venture-backed companies that have announced they will be merging with a SPAC. Companies that have been reported to be in talks to go public via SPAC aren’t included in the list, and it will be updated weekly.
This article was last updated on May 28, 2021.
Ambulnz (dba DocGo)
Date Announced: March 9, 2021
Acquirer: Motion Acquisition Corp.
Valuation: $1.1 billion
Some Investors: N/A.
Date Announced: April 7, 2021
Acquirer: Mountain Crest Acquisition Corp. II
Valuation: $187 million
Some Investors: Not available.