Share of traditional vs SPAC IPOs in the U.S. 2016-2021
Most IPOs completed in the United States in 2021 were SPAC IPOs, which is marked shift from previous years. Only 42 percent of IPOs were traditional IPOs in that year, down from 74 percent in 2019. The number of U.S. SPAC IPOs accelerated in 2020 compared to previous years - growing by nearly 190 since 2019 - and is expected to further increase in 2021. Meanwhile, the number of overall IPOs typically follows the trajectory of the economy as a whole with many in times of economic growth and fewer during periods of economic downturn.
