April 7, 2021

SPACs just broke the annual record for new issuance–in March

[] SPAC IPO issuance breaks annual record-in March | Fortune© 2020 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our u003ca href="https://fortune.com/terms-of-use/">Terms of Useu003c/a> and u003ca href="https://fortune.com/privacy-policy/">Privacy Policyu003c/a> | u003ca href="/california-privacy-policy/#notice">CA Notice at Collection and Privacy Noticeu003c/a> | u003ca href="https://fortune.com/right-to-opt-out/">Do Not Sell My Personal Informationu003c/a> | u003ca href="http://preferences-mgr.trustarc.com/?pid=fortunemedia01&aid=fortunemedia01_pub&type=fortunemedia">Ad Choices u003c/a>u003cbr />nFORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.u003cbr />nQuotes delayed at least 15 minutes. Market data provided by u003ca href="https://www.interactivedata.com">Interactive Datau003c/a>. ETF and Mutual Fund data provided by u003ca href="https://www.morningstar.com">Morningstaru003c/a>, Inc. Dow Jones Terms & Conditions: u003ca href="http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html">http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.htmlu003c/a>.u003cbr />nS&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. u003ca href="https://www.intercontinentalexchange.com/terms-of-use">Terms & Conditionsu003c/a>. Powered and implemented by u003ca href="https://www.interactivedata.com/idms">Interactive Data Managed Solutionsu003c/a>.u003c/p>n"},"children":[]}]},{"name":"social-links","config":{"services":{"facebook":"Facebook","twitter":"Twitter","linkedin":"LinkedIn","instagram":"Instagram","pinterest":"Pinterest"},"displayIcons":true,"themeName":"footer"},"children":[{"name":"social-item","config":{"displayIcon":true,"type":"facebook","url":"https://www.facebook.com/FortuneMagazine/","themeName":"footer"},"children":[]},{"name":"social-item","config":{"displayIcon":true,"type":"twitter","url":"https://twitter.com/FortuneMagazine","themeName":"footer"},"children":[]},{"name":"social-item","config":{"displayIcon":true,"type":"linkedin","url":"https://www.linkedin.com/company/fortune-magazine","themeName":"footer"},"children":[]},{"name":"social-item","config":{"displayIcon":true,"type":"instagram","url":"https://www.instagram.com/fortunemag/","themeName":"footer"},"children":[]},{"name":"social-item","config":{"displayIcon":true,"type":"pinterest","url":"https://www.pinterest.com/fortunemagazine/","themeName":"footer"},"children":[]}]}]}],"providers":{"/2021/03/17/spacs-just-broke-the-annual-record-for-new-issuance-in-march/":[{"name":"google-tag-manager","config":{"containerId":"GTM-N68KRG3","dataLayer":{"contentType":"article","contentId":"2967282","channel":"newsletters","tags":["2021 IPOs","Data Sheet","SPACs"],"headline":"SPACs just broke the annual record for new issuance—in March","authors":["Aaron Pressman"],"franchiseName":null,"premiumCategory":"P-Newsletter","topics":[],"sections":["Finance","Newsletters","Tech"]}},"children":[]},{"name":"franchise-config-provider","config":{"franchise":"","franchiseTitle":"","franchiseListPath":"","color":"#1baae1"},"children":[]},{"name":"advertising-provider","config":{"ctype":"article","cid":"2967282","ch":"newsletters","debug":false,"search":null,"tags":["2021 IPOs","Data Sheet","SPACs"],"topics":[],"premiumCategory":"P-Newsletter","defaultPath":"fortune","slots":[{"placementName":"RightRailFlex_Articles","slotId":"RightRailFlex_Articles0","lazyload":true,"useDynamicChannel":false,"targeting":{"placement_name":"RightRailFlex_Articles","index":1}},{"placementName":"RightRailFlex_Articles","slotId":"RightRailFlex_Articles1","lazyload":true,"useDynamicChannel":false,"targeting":{"placement_name":"RightRailFlex_Articles","index":2}},{"placementName":"RightRailFlex_Articles","slotId":"RightRailFlex_Articles2","lazyload":true,"useDynamicChannel":false,"targeting":{"placement_name":"RightRailFlex_Articles","index":3}},{"placementName":"Outstream","slotId":"Outstream0","lazyload":false,"useDynamicChannel":false,"targeting":{"placement_name":"Outstream","index":1}},{"placementName":"Leaderboard","slotId":"Leaderboard0","lazyload":false,"useDynamicChannel":false,"targeting":{"placement_name":"Leaderboard","index":1}}]},"children":[]}]},"page":{"/2021/03/17/spacs-just-broke-the-annual-record-for-new-issuance-in-march/":[{"name":"head","config":{},"children":[{"name":"title","config":{},"children":["SPAC IPO issuance breaks annual record-in March | Fortune"]},{"name":"meta","config":{"name":"google-site-verification","content":"JRFNeudqAejM1a-TR7d05Ddr9_M8fHFT3Q4rCYsUkxc"},"children":[]},{"name":"script","config":{"src":"https://stats.wp.com/e-202114.js","defer":true,"async":true},"children":[]},{"name":"meta","config":{"name":"description","content":"Special purpose acquisition corporations raised $84 billion in 2021, a new all-time record for the SPAC industry."},"children":[]},{"name":"meta","config":{"name":"keywords","content":"special purpose acquisition corporation, blank check company, are SPACS legal, spac history, spac breaks record, ev spac, spac etf, shorting spac"},"children":[]},{"name":"meta","config":{"property":"og:url","content":"https://fortune.com/2021/03/17/spacs-just-broke-the-annual-record-for-new-issuance-in-march/"},"children":[]},{"name":"meta","config":{"property":"og:type","content":"article"},"children":[]},{"name":"meta","config":{"property":"og:title","content":"SPACs just broke the annual record for new issuance–in March"},"children":[]},{"name":"meta","config":{"property":"og:description","content":"It's not going to end well for investors in special purpose acquisition corporations."},"children":[]},{"name":"meta","config":{"property":"og:site_name","content":"Fortune"},"children":[]},{"name":"meta","config":{"property":"og:image","content":"https://content.fortune.com/wp-content/uploads/2021/03/GettyImages-1072502884-e1615985267374.jpg?resize=1200,600"},"children":[]},{"name":"meta","config":{"property":"og:width","content":"1024"},"children":[]},{"name":"meta","config":{"property":"og:height","content":"524"},"children":[]},{"name":"meta","config":{"name":"twitter:card","content":"summary_large_image"},"children":[]},{"name":"meta","config":{"name":"twitter:title","content":"SPACs just broke the annual record for new issuance–in March"},"children":[]},{"name":"meta","config":{"name":"twitter:description","content":"It's not going to end well for investors in special purpose acquisition corporations."},"children":[]},{"name":"meta","config":{"name":"twitter:image","content":"https://content.fortune.com/wp-content/uploads/2021/03/GettyImages-1072502884-e1615985267374.jpg?resize=1200,600"},"children":[]},{"name":"meta","config":{"name":"twitter:url","content":"https://fortune.com/2021/03/17/spacs-just-broke-the-annual-record-for-new-issuance-in-march/"},"children":[]},{"name":"link","config":{"rel":"preload","href":"/static/media/SaolText-Semibold.woff2","as":"font","type":"font/woff2","crossorigin":"anonymous"},"children":[]},{"name":"link","config":{"rel":"preload","href":"/static/media/SaolText-Bold.woff2","as":"font","type":"font/woff2","crossorigin":"anonymous"},"children":[]},{"name":"link","config":{"rel":"preload","href":"/static/media/GraphikCompact-Semibold-Web.woff2","as":"font","type":"font/woff2","crossorigin":"anonymous"},"children":[]},{"name":"link","config":{"rel":"preload","href":"/static/media/GraphikCondensed-Light-Web.woff2","as":"font","type":"font/woff2","crossorigin":"anonymous"},"children":[]},{"name":"link","config":{"rel":"preload","href":"/static/media/GraphikCondensed-Bold-Web.woff2","as":"font","type":"font/woff2","crossorigin":"anonymous"},"children":[]},{"name":"link","config":{"rel":"preload","href":"/static/media/MillerText-Roman.woff2","as":"font","type":"font/woff","crossorigin":"anonymous"},"children":[]},{"name":"link","config":{"rel":"preload","href":"/static/media/MillerText-Italic.woff2","as":"font","type":"font/woff","crossorigin":"anonymous"},"children":[]},{"name":"link","config":{"rel":"preload","href":"/static/media/MillerText-Bold.woff2","as":"font","type":"font/woff","crossorigin":"anonymous"},"children":[]},{"name":"link","config":{"rel":"preload","href":"/static/media/MillerText-BoldItalic.woff2","as":"font","type":"font/woff","crossorigin":"anonymous"},"children":[]},{"name":"link","config":{"rel":"canonical","href":"https://fortune.com/2021/03/17/spacs-just-broke-the-annual-record-for-new-issuance-in-march/"},"children":[]},{"name":"link","config":{"rel":"amphtml","href":"https://fortune.com/2021/03/17/spacs-just-broke-the-annual-record-for-new-issuance-in-march/amp/"},"children":[]}]},{"name":"parsely","config":{"site":"fortune.com","metadata":{"@type":"NewsArticle","@context":"http://schema.org","publisher":{"@type":"Organization","name":"Fortune","logo":{"@type":"ImageObject","url":"https://fortune.com/static/media/logo.png"}},"headline":"SPACs just broke the annual record for new issuance—in March","url":"https://fortune.com/2021/03/17/spacs-just-broke-the-annual-record-for-new-issuance-in-march/","mainEntityOfPage":"https://fortune.com/2021/03/17/spacs-just-broke-the-annual-record-for-new-issuance-in-march/","datePublished":"2021-03-17T09:49:18-04:00","dateModified":"2021-03-17T10:49:46-04:00","identifier":2967282,"isAccessibleForFree":false,"hasPart":{"@type":"WebPageElement","isAccessibleForFree":"False","cssSelector":".paywall"},"thumbnailUrl":"https://content.fortune.com/wp-content/uploads/2021/03/GettyImages-1072502884-e1615985267374.jpg","image":"https://content.fortune.com/wp-content/uploads/2021/03/GettyImages-1072502884-e1615985267374.jpg","author":["Aaron Pressman"],"keywords":["2021 IPOs","Data Sheet","SPACs"],"articleSection":"Newsletters","description":"Special purpose acquisition corporations raised $84 billion in 2021, a new all-time record for the SPAC industry."}},"children":[]},{"name":"fonts","config":{},"children":[]},{"name":"site-stats","config":{"data":{"v":"ext","j":"1:9.4.1","blog":164653900,"post":2967282,"tz":-4,"srv":"content.fortune.com"}},"children":[]},{"name":"header","config":{"themeName":"large","homeLink":"https://fortune.com/2021/03/17/spacs-just-broke-the-annual-record-for-new-issuance-in-march/"},"children":[{"name":"header-search","config":{},"children":[{"name":"search-nav","config":{},"children":[{"name":"search-nav-menu","config":{},"children":[{"name":"menu-item","config":{"id":2757811,"label":"Automotives","url":"/section/auto/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757814,"label":"Careers","url":"/section/careers/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757815,"label":"Design","url":"/section/design/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757816,"label":"Energy","url":"/section/energy/","themeName":""},"children":[]}]},{"name":"search-nav-menu","config":{},"children":[{"name":"menu-item","config":{"id":2757820,"label":"Entertainment","url":"/section/entertainment/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757822,"label":"Finance","url":"/section/finance/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757823,"label":"Health","url":"/section/health/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757824,"label":"Humor","url":"/section/humor/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757825,"label":"International","url":"/section/international/","themeName":""},"children":[]}]},{"name":"search-nav-menu","config":{},"children":[{"name":"menu-item","config":{"id":2757830,"label":"Leadership","url":"/section/leadership/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757831,"label":"Photography","url":"/section/photography/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757832,"label":"Luxury","url":"/section/luxury/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757833,"label":"Newsletters","url":"/section/newsletters/","themeName":""},"children":[]}]},{"name":"search-nav-menu","config":{},"children":[{"name":"menu-item","config":{"id":2757839,"label":"Retail","url":"/section/retail/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757841,"label":"Real Estate","url":"/section/real-estate/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757843,"label":"Sports","url":"/section/sports/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757846,"label":"Technology","url":"/section/tech/","themeName":""},"children":[]}]},{"name":"search-nav-menu","config":{},"children":[{"name":"menu-item","config":{"id":2757849,"label":"All Rankings","url":"/rankings/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757851,"label":"Fortune 500","url":"/fortune500/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757853,"label":"Global 500","url":"/global500/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757855,"label":"40 Under 40","url":"/40-under-40/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757856,"label":"Most Powerful Women","url":"/most-powerful-women/","themeName":""},"children":[]}]},{"name":"search-nav-menu","config":{},"children":[{"name":"menu-item","config":{"id":2757860,"label":"About Us","url":"/about-us/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757861,"label":"Advertising","url":"https://fortunemediakit.com/","themeName":""},"children":[]}]}]}]},{"name":"header-menu","config":{"socialHeading":"Stay Connected"},"children":[{"name":"menu","config":{"location":"","title":"","titleLink":"","displayTitle":false,"menuItemClass":"","themeName":""},"children":[{"name":"menu-item","config":{"id":2659668,"label":"Rankings","url":"https://fortune.com/rankings/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757866,"label":"Magazine","url":"https://fortune.com/magazine/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757869,"label":"Newsletters","url":"https://mynewsletters.fortune.com/subscribe?source=FO_CMS_Nav","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2789243,"label":"Podcasts","url":"https://fortune.com/podcasts/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2821372,"label":"COVID-19","url":"https://fortune.com/tag/coronavirus/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757870,"label":"Video On Demand","url":"https://fortune.com/videos/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2757871,"label":"Fortune Live Media","url":"https://fortune.com/conferences/","themeName":""},"children":[]},{"name":"menu-item","config":{"id":2939507,"label":"Fortune Connect","url":"https://fortune.com/connect","themeName":""},"children":[]}]},{"name":"social-links","config":{"services":{"facebook":"Facebook","twitter":"Twitter","linkedin":"LinkedIn","instagram":"Instagram","pinterest":"Pinterest"},"displayIcons":true,"themeName":"menu-social"},"children":[{"name":"social-item","config":{"displayIcon":true,"type":"facebook","url":"https://www.facebook.com/FortuneMagazine/"},"children":[]},{"name":"social-item","config":{"displayIcon":true,"type":"twitter","url":"https://twitter.com/FortuneMagazine"},"children":[]},{"name":"social-item","config":{"displayIcon":true,"type":"linkedin","url":"https://www.linkedin.com/company/fortune-magazine"},"children":[]},{"name":"social-item","config":{"displayIcon":true,"type":"instagram","url":"https://www.instagram.com/fortunemag/"},"children":[]},{"name":"social-item","config":{"displayIcon":true,"type":"pinterest","url":"https://www.pinterest.com/fortunemagazine/"},"children":[]}]}]},{"name":"header-popular-posts","config":{"heading":"Most Popular Posts"},"children":[{"name":"content-list-item","config":{"title":"If a COVID-19 vaccine does turn out to be dangerous, who’s on the hook?","permalink":"https://fortune.com/2021/04/07/covid-vaccine-safety-is-astrazeneca-safe-coronavirus-vaccination-liability/","hasVideo":false,"themeName":"header-popular-posts","isNativoTout":false,"eyebrowSectionLabel":"Health","eyebrowSectionLink":"https://fortune.com/section/health/","eyebrowTagLabel":"COVID-19 Vaccine","eyebrowTagLink":"https://fortune.com/tag/covid-vaccine/","publishDateIso8601":"2021-04-07T10:34:15-04:00","id":2978548,"excerpt":"When it comes to vaccine liability in a pandemic, manufacturers are almost entirely in a safe zone. ","type":"post"},"children":[{"name":"byline","config":{"link":"https://fortune.com/author/david-meyer/","name":"David Meyer"},"children":[]},{"name":"image","config":{"aspectRatio":0.6666666666666666,"attachmentId":2978551,"alt":"Medical personnel vaccinates a man with an injection of AstraZeneca vaccine against the coronavirus (Covid-19) at a drive-in vaccination centre in Schwelm, western Germany, on April 7, 2021, amid the ongoing pandemic.","caption":"A man receives the AstraZeneca COVID-19 vaccine at a drive-in center in western Germany, on April 7, 2021. ","crops":[],"height":3585,"imageSize":"header-popular-posts","lazyload":true,"lqipSrc":"https://content.fortune.com/wp-content/uploads/2021/04/GettyImages-1232159387.jpg?quality=60&resize=60,40","postId":2978548,"retina":false,"showCaption":false,"sources":[{"default":true,"transforms":{"resize":[130,86]},"descriptor":100}],"sourceTags":[],"src":"https://content.fortune.com/wp-content/uploads/2021/04/GettyImages-1232159387.jpg?resize=130,86","srcset":"","url":"https://content.fortune.com/wp-content/uploads/2021/04/GettyImages-1232159387.jpg","useBasicImg":true,"usingDataFallback":false,"width":5337,"fallbackImageUrl":"data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7","picture":false,"sizes":""},"children":[]},{"name":"byline","config":{"link":"https://fortune.com/author/david-meyer/","name":"David Meyer"},"children":[]}]},{"name":"content-list-item","config":{"title":"No-code A.I. is coming. Is your company ready?","permalink":"https://fortune.com/2021/04/06/no-code-a-i-is-coming-is-your-company-ready/","hasVideo":false,"themeName":"header-popular-posts","isNativoTout":true,"eyebrowSectionLabel":"Newsletters","eyebrowSectionLink":"https://fortune.com/section/newsletters/","eyebrowTagLabel":"Eye on A.I.","eyebrowTagLink":"https://fortune.com/tag/eye-on-a-i/","publishDateIso8601":"2021-04-06T12:01:39-04:00","id":2977402,"excerpt":"A lot of A.I. software companies are increasingly putting the power to build specific A.I. algorithms in their customers' hands. It's a powerful development—but also possibly dangerous. ","type":"post"},"children":[{"name":"byline","config":{"link":"https://fortune.com/author/jeremy-kahn/","name":"Jeremy Kahn"},"children":[]},{"name":"image","config":{"aspectRatio":0.6666666666666666,"attachmentId":2977399,"alt":"Man arranging bars on a bar chart on a transparent glass screen.","caption":"","crops":[],"height":1921,"imageSize":"header-popular-posts","lazyload":true,"lqipSrc":"https://content.fortune.com/wp-content/uploads/2021/04/Eye-on-A.I.-photo-for-April-6-2021-e1617641090599.jpg?quality=60&resize=60,40","postId":2977402,"retina":false,"showCaption":false,"sources":[{"default":true,"transforms":{"resize":[130,86]},"descriptor":100}],"sourceTags":[],"src":"https://content.fortune.com/wp-content/uploads/2021/04/Eye-on-A.I.-photo-for-April-6-2021-e1617641090599.jpg?resize=130,86","srcset":"","url":"https://content.fortune.com/wp-content/uploads/2021/04/Eye-on-A.I.-photo-for-April-6-2021-e1617641090599.jpg","useBasicImg":true,"usingDataFallback":false,"width":2880,"fallbackImageUrl":"data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7","picture":false,"sizes":""},"children":[]},{"name":"byline","config":{"link":"https://fortune.com/author/jeremy-kahn/","name":"Jeremy Kahn"},"children":[]}]},{"name":"content-list-item","config":{"title":"Programming language experts win ‘Nobel Prize of computing’","permalink":"https://fortune.com/2021/03/31/turning-award-winners-2021-computer-science-prize-nobel-prize-money/","hasVideo":false,"themeName":"header-popular-posts","isNativoTout":false,"eyebrowSectionLabel":"Tech","eyebrowSectionLink":"https://fortune.com/section/tech/","eyebrowTagLabel":"Turing Award","eyebrowTagLink":"https://fortune.com/tag/turing-award/","publishDateIso8601":"2021-03-31T05:00:00-04:00","id":2974271,"excerpt":"Alfred Aho and Jeffrey Ullman will share this year’s $1 million Turing Award. Their textbooks taught generations of computer scientists the fundamentals of coding languages and algorithms.","type":"post"},"children":[{"name":"byline","config":{"link":"https://fortune.com/author/jeremy-kahn/","name":"Jeremy Kahn"},"children":[]},{"name":"image","config":{"aspectRatio":0.6666666666666666,"attachmentId":2974336,"alt":"photo of Alfred Aho","caption":"Alfred Aho, computer science professor emeritus at Columbia University, who shares this year’s Turing Award with longtime collaborator Jeffrey Ullman.","crops":[],"height":2832,"imageSize":"header-popular-posts","lazyload":true,"lqipSrc":"https://content.fortune.com/wp-content/uploads/2021/03/Al_Aho.jpg?quality=60&resize=60,40","postId":2974271,"retina":false,"showCaption":false,"sources":[{"default":true,"transforms":{"resize":[130,86]},"descriptor":100}],"sourceTags":[],"src":"https://content.fortune.com/wp-content/uploads/2021/03/Al_Aho.jpg?resize=130,86","srcset":"","url":"https://content.fortune.com/wp-content/uploads/2021/03/Al_Aho.jpg","useBasicImg":true,"usingDataFallback":false,"width":4256,"fallbackImageUrl":"data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7","picture":false,"sizes":""},"children":[]},{"name":"byline","config":{"link":"https://fortune.com/author/jeremy-kahn/","name":"Jeremy Kahn"},"children":[]}]}]},{"name":"html","config":{"content":"SPACs just broke the annual record for new issuance—in March"},"children":[]},{"name":"social-sharing","config":{"services":{"facebook":true,"twitter":true,"linkedin":true,"email":true},"displayIcons":true,"themeName":"header"},"children":[{"name":"social-item","config":{"displayIcon":true,"type":"facebook","url":"https://www.facebook.com/sharer.php/?u=https%3A%2F%2Ffortune.com%2F2021%2F03%2F17%2Fspacs-just-broke-the-annual-record-for-new-issuance-in-march%2F","themeName":"header"},"children":[]},{"name":"social-item","config":{"displayIcon":true,"type":"twitter","url":"https://twitter.com/intent/tweet?text=SPACs%20just%20broke%20the%20annual%20record%20for%20new%20issuance%E2%80%94in%20March&url=https%3A%2F%2Ffortune.com%2F2021%2F03%2F17%2Fspacs-just-broke-the-annual-record-for-new-issuance-in-march%2F","themeName":"header"},"children":[]},{"name":"social-item","config":{"displayIcon":true,"type":"linkedin","url":"https://www.linkedin.com/shareArticle/?url=https%3A%2F%2Ffortune.com%2F2021%2F03%2F17%2Fspacs-just-broke-the-annual-record-for-new-issuance-in-march%2F&title=SPACs%20just%20broke%20the%20annual%20record%20for%20new%20issuance%E2%80%94in%20March&summary=It%27s%20not%20going%20to%20end%20well%20for%20investors%20in%20special%20purpose%20acquisition%20corporations.","themeName":"header"},"children":[]},{"name":"social-item","config":{"displayIcon":true,"type":"email","url":"mailto:?subject=SPACs%20just%20broke%20the%20annual%20record%20for%20new%20issuance%E2%80%94in%20March&body=https%3A%2F%2Ffortune.com%2F2021%2F03%2F17%2Fspacs-just-broke-the-annual-record-for-new-issuance-in-march%2F","themeName":"header"},"children":[]}]},{"name":"advertising-slot","config":{"align":"center","lazyload":false,"useDynamicChannel":false,"placementName":"Leaderboard","slotId":"Leaderboard0","targeting":{"placement_name":"Leaderboard","index":1}},"children":[]},{"name":"menu","config":{"location":"","title":"","titleLink":"","displayTitle":false,"menuItemClass":"","themeName":"header"},"children":[{"name":"menu-item","config":{"id":2659660,"label":"Rankings","url":"","themeName":"header"},"children":[{"name":"menu","config":{"location":"","title":"Rankings","titleLink":"","displayTitle":false,"menuItemClass":"","themeName":"","type":"submenu"},"children":[{"name":"menu-item","config":{"id":2757862,"label":"See All Rankings","url":"https://fortune.com/rankings/","themeName":"header"},"children":[]},{"name":"menu-item","config":{"id":2757863,"label":"Fortune 500","url":"https://fortune.com/fortune500/","themeName":"header"},"children":[]},{"name":"menu-item","config":{"id":2757864,"label":"Global 500","url":"https://fortune.com/global500/","themeName":"header"},"children":[]},{"name":"menu-item","config":{"id":2757865,"label":"40 Under 40","url":"https://fortune.com/40-under-40/","themeName":"header"},"children":[]},{"name":"menu-item","config":{"id":2965880,"label":"GREAT PLACE TO WORK LISTS","url":"https://fortune.com/great-place-to-work-rankings/","themeName":"header"},"children":[]}]}]},{"name":"menu-item","config":{"id":2757840,"label":"Magazine","url":"https://fortune.com/magazine/","themeName":"header"},"children":[]},{"name":"menu-item","config":{"id":2662045,"label":"Newsletters","url":"https://mynewsletters.fortune.com/subscribe?source=FO_CMS_Nav","themeName":"header"},"children":[]},{"name":"menu-item","config":{"id":2783994,"label":"Podcasts","url":"https://fortune.com/podcasts/","themeName":"header"},"children":[]},{"name":"menu-item","config":{"id":2808976,"label":"COVID-19","url":"https://fortune.com/tag/coronavirus/","themeName":"header"},"children":[]},{"name":"menu-item","config":{"id":2939509,"label":"More","url":"","themeName":"header"},"children":[{"name":"menu","config":{"location":"","title":"More","titleLink":"","displayTitle":false,"menuItemClass":"","themeName":"","type":"submenu"},"children":[{"name":"menu-item","config":{"id":2808973,"label":"Video On Demand","url":"https://fortune.com/videos/","themeName":"header"},"children":[]},{"name":"menu-item","config":{"id":2662044,"label":"Fortune Live Media","url":"https://fortune.com/conferences/","themeName":"header"},"children":[]},{"name":"menu-item","config":{"id":2939511,"label":"Fortune Connect","url":"https://fortune.com/connect","themeName":"header"},"children":[]}]}]}]}]},{"name":"body","config":{"bodyClasses":["article"]},"children":[{"name":"article-wrapper","config":{"themeName":"article"},"children":[{"name":"article-header","config":{"publishDate":"March 17, 2021","title":"SPACs just broke the annual record for new issuance—in March","eyebrowSectionLabel":"Newsletters","eyebrowSectionLink":"https://fortune.com/section/newsletters/","eyebrowTagLabel":"Data Sheet","eyebrowTagLink":"https://fortune.com/tag/datasheet/","publishDateIso8601":"2021-03-17T09:49:18-04:00","themeName":"alignLeft"},"children":[{"name":"byline","config":{"link":"https://fortune.com/author/aaron-pressman/","name":"Aaron Pressman","themeName":"article"},"children":[]},{"name":"social-sharing","config":{"services":{"facebook":true,"twitter":true,"linkedin":true,"email":true},"displayIcons":true,"themeName":"article"},"children":[{"name":"social-item","config":{"displayIcon":true,"type":"facebook","url":"https://www.facebook.com/sharer.php/?u=https%3A%2F%2Ffortune.com%2F2021%2F03%2F17%2Fspacs-just-broke-the-annual-record-for-new-issuance-in-march%2F","themeName":"article"},"children":[]},{"name":"social-item","config":{"displayIcon":true,"type":"twitter","url":"https://twitter.com/intent/tweet?text=SPACs%20just%20broke%20the%20annual%20record%20for%20new%20issuance%E2%80%94in%20March&url=https%3A%2F%2Ffortune.com%2F2021%2F03%2F17%2Fspacs-just-broke-the-annual-record-for-new-issuance-in-march%2F","themeName":"article"},"children":[]},{"name":"social-item","config":{"displayIcon":true,"type":"linkedin","url":"https://www.linkedin.com/shareArticle/?url=https%3A%2F%2Ffortune.com%2F2021%2F03%2F17%2Fspacs-just-broke-the-annual-record-for-new-issuance-in-march%2F&title=SPACs%20just%20broke%20the%20annual%20record%20for%20new%20issuance%E2%80%94in%20March&summary=It%27s%20not%20going%20to%20end%20well%20for%20investors%20in%20special%20purpose%20acquisition%20corporations.","themeName":"article"},"children":[]},{"name":"social-item","config":{"displayIcon":true,"type":"email","url":"mailto:?subject=SPACs%20just%20broke%20the%20annual%20record%20for%20new%20issuance%E2%80%94in%20March&body=https%3A%2F%2Ffortune.com%2F2021%2F03%2F17%2Fspacs-just-broke-the-annual-record-for-new-issuance-in-march%2F","themeName":"article"},"children":[]}]}]},{"name":"sidebar","config":{"themeName":"right"},"children":[{"name":"advertising-slot","config":{"align":"center","lazyload":true,"useDynamicChannel":false,"placementName":"RightRailFlex_Articles","slotId":"RightRailFlex_Articles0","themeName":"article","targeting":{"placement_name":"RightRailFlex_Articles","index":1}},"children":[]},{"name":"article-popular","config":{"heading":"Most Popular Posts"},"children":[{"name":"content-list-item","config":{"title":"If a COVID-19 vaccine does turn out to be dangerous, who’s on the hook?","permalink":"https://fortune.com/2021/04/07/covid-vaccine-safety-is-astrazeneca-safe-coronavirus-vaccination-liability/","hasVideo":false,"themeName":"article-sidebar","isNativoTout":true,"eyebrowSectionLabel":"Health","eyebrowSectionLink":"https://fortune.com/section/health/","eyebrowTagLabel":"COVID-19 Vaccine","eyebrowTagLink":"https://fortune.com/tag/covid-vaccine/","publishDateIso8601":"2021-04-07T10:34:15-04:00","id":2978548,"excerpt":"When it comes to vaccine liability in a pandemic, manufacturers are almost entirely in a safe zone. ","type":"post"},"children":[{"name":"byline","config":{"link":"https://fortune.com/author/david-meyer/","name":"David Meyer"},"children":[]},{"name":"image","config":{"aspectRatio":0.6666666666666666,"attachmentId":2978551,"alt":"Medical personnel vaccinates a man with an injection of AstraZeneca vaccine against the coronavirus (Covid-19) at a drive-in vaccination centre in Schwelm, western Germany, on April 7, 2021, amid the ongoing pandemic.","caption":"A man receives the AstraZeneca COVID-19 vaccine at a drive-in center in western Germany, on April 7, 2021. ","crops":[],"height":3585,"imageSize":"article-sidebar","lazyload":true,"lqipSrc":"https://content.fortune.com/wp-content/uploads/2021/04/GettyImages-1232159387.jpg?quality=60&resize=60,40","postId":2978548,"retina":true,"showCaption":false,"sources":[{"default":true,"transforms":{"resize":[130,86]},"descriptor":100}],"sourceTags":[],"src":"https://content.fortune.com/wp-content/uploads/2021/04/GettyImages-1232159387.jpg","srcset":"https://content.fortune.com/wp-content/uploads/2021/04/GettyImages-1232159387.jpg?resize=260,172 200w,https://content.fortune.com/wp-content/uploads/2021/04/GettyImages-1232159387.jpg?resize=130,86 100w","url":"https://content.fortune.com/wp-content/uploads/2021/04/GettyImages-1232159387.jpg","useBasicImg":false,"usingDataFallback":false,"width":5337,"fallbackImageUrl":"data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7","picture":false,"sizes":"100px"},"children":[]},{"name":"byline","config":{"link":"https://fortune.com/author/david-meyer/","name":"David Meyer"},"children":[]}]},{"name":"content-list-item","config":{"title":"No-code A.I. is coming. Is your company ready?","permalink":"https://fortune.com/2021/04/06/no-code-a-i-is-coming-is-your-company-ready/","hasVideo":false,"themeName":"article-sidebar","isNativoTout":false,"eyebrowSectionLabel":"Newsletters","eyebrowSectionLink":"https://fortune.com/section/newsletters/","eyebrowTagLabel":"Eye on A.I.","eyebrowTagLink":"https://fortune.com/tag/eye-on-a-i/","publishDateIso8601":"2021-04-06T12:01:39-04:00","id":2977402,"excerpt":"A lot of A.I. software companies are increasingly putting the power to build specific A.I. algorithms in their customers' hands. It's a powerful development—but also possibly dangerous. ","type":"post"},"children":[{"name":"byline","config":{"link":"https://fortune.com/author/jeremy-kahn/","name":"Jeremy Kahn"},"children":[]},{"name":"image","config":{"aspectRatio":0.6666666666666666,"attachmentId":2977399,"alt":"Man arranging bars on a bar chart on a transparent glass screen.","caption":"","crops":[],"height":1921,"imageSize":"article-sidebar","lazyload":true,"lqipSrc":"https://content.fortune.com/wp-content/uploads/2021/04/Eye-on-A.I.-photo-for-April-6-2021-e1617641090599.jpg?quality=60&resize=60,40","postId":2977402,"retina":true,"showCaption":false,"sources":[{"default":true,"transforms":{"resize":[130,86]},"descriptor":100}],"sourceTags":[],"src":"https://content.fortune.com/wp-content/uploads/2021/04/Eye-on-A.I.-photo-for-April-6-2021-e1617641090599.jpg","srcset":"https://content.fortune.com/wp-content/uploads/2021/04/Eye-on-A.I.-photo-for-April-6-2021-e1617641090599.jpg?resize=260,172 200w,https://content.fortune.com/wp-content/uploads/2021/04/Eye-on-A.I.-photo-for-April-6-2021-e1617641090599.jpg?resize=130,86 100w","url":"https://content.fortune.com/wp-content/uploads/2021/04/Eye-on-A.I.-photo-for-April-6-2021-e1617641090599.jpg","useBasicImg":false,"usingDataFallback":false,"width":2880,"fallbackImageUrl":"data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7","picture":false,"sizes":"100px"},"children":[]},{"name":"byline","config":{"link":"https://fortune.com/author/jeremy-kahn/","name":"Jeremy Kahn"},"children":[]}]},{"name":"content-list-item","config":{"title":"Programming language experts win ‘Nobel Prize of computing’","permalink":"https://fortune.com/2021/03/31/turning-award-winners-2021-computer-science-prize-nobel-prize-money/","hasVideo":false,"themeName":"article-sidebar","isNativoTout":false,"eyebrowSectionLabel":"Tech","eyebrowSectionLink":"https://fortune.com/section/tech/","eyebrowTagLabel":"Turing Award","eyebrowTagLink":"https://fortune.com/tag/turing-award/","publishDateIso8601":"2021-03-31T05:00:00-04:00","id":2974271,"excerpt":"Alfred Aho and Jeffrey Ullman will share this year’s $1 million Turing Award. Their textbooks taught generations of computer scientists the fundamentals of coding languages and algorithms.","type":"post"},"children":[{"name":"byline","config":{"link":"https://fortune.com/author/jeremy-kahn/","name":"Jeremy Kahn"},"children":[]},{"name":"image","config":{"aspectRatio":0.6666666666666666,"attachmentId":2974336,"alt":"photo of Alfred Aho","caption":"Alfred Aho, computer science professor emeritus at Columbia University, who shares this year’s Turing Award with longtime collaborator Jeffrey Ullman.","crops":[],"height":2832,"imageSize":"article-sidebar","lazyload":true,"lqipSrc":"https://content.fortune.com/wp-content/uploads/2021/03/Al_Aho.jpg?quality=60&resize=60,40","postId":2974271,"retina":true,"showCaption":false,"sources":[{"default":true,"transforms":{"resize":[130,86]},"descriptor":100}],"sourceTags":[],"src":"https://content.fortune.com/wp-content/uploads/2021/03/Al_Aho.jpg","srcset":"https://content.fortune.com/wp-content/uploads/2021/03/Al_Aho.jpg?resize=260,172 200w,https://content.fortune.com/wp-content/uploads/2021/03/Al_Aho.jpg?resize=130,86 100w","url":"https://content.fortune.com/wp-content/uploads/2021/03/Al_Aho.jpg","useBasicImg":false,"usingDataFallback":false,"width":4256,"fallbackImageUrl":"data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7","picture":false,"sizes":"100px"},"children":[]},{"name":"byline","config":{"link":"https://fortune.com/author/jeremy-kahn/","name":"Jeremy Kahn"},"children":[]}]},{"name":"content-list-item","config":{"title":"Lumber prices are up a staggering 188%—when will the wood shortage end?","permalink":"https://fortune.com/2021/03/20/lumber-prices-2021-chart-when-will-wood-shortage-end-price-of-lumber-go-down-home-sales-cost-update-march/","hasVideo":false,"themeName":"article-sidebar","isNativoTout":false,"eyebrowSectionLabel":"Finance","eyebrowSectionLink":"https://fortune.com/section/finance/","eyebrowTagLabel":"Real Estate","eyebrowTagLink":"https://fortune.com/tag/real-estate-2/","publishDateIso8601":"2021-03-20T05:30:00-04:00","id":2964698,"excerpt":"The price of lumber per thousand board feet is at $1,044, according to Random Lengths. That's an all-time high, and up 188% since the onset of the pandemic.","type":"post"},"children":[{"name":"byline","config":{"link":"https://fortune.com/author/lance-lambert/","name":"Lance Lambert"},"children":[]},{"name":"image","config":{"aspectRatio":0.6666666666666666,"attachmentId":2968591,"alt":"Lumber prices chart: 2021 lumber shortage sees wood prices skyrocket","caption":"","crops":[],"height":840,"imageSize":"article-sidebar","lazyload":true,"lqipSrc":"https://content.fortune.com/wp-content/uploads/2021/03/0bmwB-lumber-price-per-thousand-board-feet-1-1.png?quality=60&resize=60,40","postId":2964698,"retina":true,"showCaption":false,"sources":[{"default":true,"transforms":{"resize":[130,86]},"descriptor":100}],"sourceTags":[],"src":"https://content.fortune.com/wp-content/uploads/2021/03/0bmwB-lumber-price-per-thousand-board-feet-1-1.png","srcset":"https://content.fortune.com/wp-content/uploads/2021/03/0bmwB-lumber-price-per-thousand-board-feet-1-1.png?resize=260,172 200w,https://content.fortune.com/wp-content/uploads/2021/03/0bmwB-lumber-price-per-thousand-board-feet-1-1.png?resize=130,86 100w","url":"https://content.fortune.com/wp-content/uploads/2021/03/0bmwB-lumber-price-per-thousand-board-feet-1-1.png","useBasicImg":false,"usingDataFallback":false,"width":1240,"fallbackImageUrl":"data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7","picture":false,"sizes":"100px"},"children":[]},{"name":"byline","config":{"link":"https://fortune.com/author/lance-lambert/","name":"Lance Lambert"},"children":[]}]}]},{"name":"article-editor-picks","config":{"heading":"Editors' Picks"},"children":[{"name":"content-list-item","config":{"title":"Only one of the Big Four vaccine makers produced a COVID-19 winner. What happens next?","permalink":"https://fortune.com/2021/03/03/covid-vaccines-pfizer-moderna-big-pharma/","hasVideo":false,"themeName":"article-sidebar","isNativoTout":true,"eyebrowSectionLabel":"Health","eyebrowSectionLink":"https://fortune.com/section/health/","eyebrowTagLabel":"COVID-19 Vaccine","eyebrowTagLink":"https://fortune.com/tag/covid-vaccine/","publishDateIso8601":"2021-03-03T18:30:37-05:00","id":2961369,"excerpt":"Smaller companies' success signals a sea change in the highly consolidated industry. ","type":"post"},"children":[{"name":"byline","config":{"link":"https://fortune.com/author/kat-eschner/","name":"Kat Eschner"},"children":[]},{"name":"image","config":{"aspectRatio":0.6666666666666666,"attachmentId":2961376,"alt":"Discarded vials of the Pfizer-BioNtech COVID-19 vaccine are seen at the Clalit Health Services in the Palestinian neighbourhood of Beit Hanina, in the Israeli-annexed east Jerusalem on March 2, 2021. (Photo by AHMAD GHARABLI/AFP via Getty Images)","caption":"","crops":[],"height":1922,"imageSize":"article-sidebar","lazyload":true,"lqipSrc":"https://content.fortune.com/wp-content/uploads/2021/03/GettyImages-1231471113-e1614806579945.jpg?quality=60&resize=60,40","postId":2961369,"retina":true,"showCaption":false,"sources":[{"default":true,"transforms":{"resize":[130,86]},"descriptor":100}],"sourceTags":[],"src":"https://content.fortune.com/wp-content/uploads/2021/03/GettyImages-1231471113-e1614806579945.jpg","srcset":"https://content.fortune.com/wp-content/uploads/2021/03/GettyImages-1231471113-e1614806579945.jpg?resize=260,172 200w,https://content.fortune.com/wp-content/uploads/2021/03/GettyImages-1231471113-e1614806579945.jpg?resize=130,86 100w","url":"https://content.fortune.com/wp-content/uploads/2021/03/GettyImages-1231471113-e1614806579945.jpg","useBasicImg":false,"usingDataFallback":false,"width":2879,"fallbackImageUrl":"data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7","picture":false,"sizes":"100px"},"children":[]},{"name":"byline","config":{"link":"https://fortune.com/author/kat-eschner/","name":"Kat Eschner"},"children":[]}]},{"name":"content-list-item","config":{"title":"Best Buy’s incredible 2020 online sales are bad news for its store employees","permalink":"https://fortune.com/2021/02/25/best-buy-sales-online-store-employees/","hasVideo":false,"themeName":"article-sidebar","isNativoTout":false,"eyebrowSectionLabel":"Retail","eyebrowSectionLink":"https://fortune.com/section/retail/","eyebrowTagLabel":"Best Buy","eyebrowTagLink":"https://fortune.com/tag/best-buy/","publishDateIso8601":"2021-02-25T13:48:08-05:00","id":2958586,"excerpt":"The electronics chain has 17% fewer workers than a year ago.","type":"post"},"children":[{"name":"byline","config":{"link":"https://fortune.com/author/phil-wahba/","name":"Phil Wahba"},"children":[]},{"name":"image","config":{"aspectRatio":0.6666666666666666,"attachmentId":2958695,"alt":"Corie Barry, CEO of Best Buy, speaks during the Fortune's Most Powerful Women Summit in Washington, D.C., U.S., on Wednesday, Oct. 23, 2019. Fortune's annual summit includes prominent women leaders in business, philanthropy, government, education, and the arts. Photographer: Sarah Silbiger/Bloomberg via Getty Images","caption":"Best Buy CEO Corie Barry speaks at Fortune’s Most Powerful Women Summit in Washington, D.C., Oct. 23, 2019.","crops":[],"height":3669,"imageSize":"article-sidebar","lazyload":true,"lqipSrc":"https://content.fortune.com/wp-content/uploads/2021/02/GettyImages-1177750012.jpg?quality=60&resize=60,40","postId":2958586,"retina":true,"showCaption":false,"sources":[{"default":true,"transforms":{"resize":[130,86]},"descriptor":100}],"sourceTags":[],"src":"https://content.fortune.com/wp-content/uploads/2021/02/GettyImages-1177750012.jpg","srcset":"https://content.fortune.com/wp-content/uploads/2021/02/GettyImages-1177750012.jpg?resize=260,172 200w,https://content.fortune.com/wp-content/uploads/2021/02/GettyImages-1177750012.jpg?resize=130,86 100w","url":"https://content.fortune.com/wp-content/uploads/2021/02/GettyImages-1177750012.jpg","useBasicImg":false,"usingDataFallback":false,"width":5503,"fallbackImageUrl":"data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7","picture":false,"sizes":"100px"},"children":[]},{"name":"byline","config":{"link":"https://fortune.com/author/phil-wahba/","name":"Phil Wahba"},"children":[]}]},{"name":"content-list-item","config":{"title":"Watch out: Rising interest rates could be what kills the bull market","permalink":"https://fortune.com/2021/02/25/stock-market-interest-rates-bull-market-us-economy/","hasVideo":false,"themeName":"article-sidebar","isNativoTout":false,"eyebrowSectionLabel":"Finance","eyebrowSectionLink":"https://fortune.com/section/finance/","eyebrowTagLabel":"Stock market","eyebrowTagLink":"https://fortune.com/tag/stock-market/","publishDateIso8601":"2021-02-25T11:54:17-05:00","id":2958044,"excerpt":"Fast-rising prices would force the Fed to throttle the economic engine by raising rates, a move that would hammer corporate profits. ","type":"post"},"children":[{"name":"byline","config":{"link":"https://fortune.com/author/shawn-tully/","name":"Shawn Tully"},"children":[]},{"name":"image","config":{"aspectRatio":0.6666666666666666,"attachmentId":2958290,"alt":"Rising Interest Rates-Graph Concept","caption":"Rising interest rates could be a killer for stocks.","crops":[],"height":1920,"imageSize":"article-sidebar","lazyload":true,"lqipSrc":"https://content.fortune.com/wp-content/uploads/2021/02/Rising-Interest-Rates-Graph-Concept-GettyImages-1303546981.jpg?quality=60&resize=60,40","postId":2958044,"retina":true,"showCaption":false,"sources":[{"default":true,"transforms":{"resize":[130,86]},"descriptor":100}],"sourceTags":[],"src":"https://content.fortune.com/wp-content/uploads/2021/02/Rising-Interest-Rates-Graph-Concept-GettyImages-1303546981.jpg","srcset":"https://content.fortune.com/wp-content/uploads/2021/02/Rising-Interest-Rates-Graph-Concept-GettyImages-1303546981.jpg?resize=260,172 200w,https://content.fortune.com/wp-content/uploads/2021/02/Rising-Interest-Rates-Graph-Concept-GettyImages-1303546981.jpg?resize=130,86 100w","url":"https://content.fortune.com/wp-content/uploads/2021/02/Rising-Interest-Rates-Graph-Concept-GettyImages-1303546981.jpg","useBasicImg":false,"usingDataFallback":false,"width":2880,"fallbackImageUrl":"data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7","picture":false,"sizes":"100px"},"children":[]},{"name":"byline","config":{"link":"https://fortune.com/author/shawn-tully/","name":"Shawn Tully"},"children":[]}]}]},{"name":"advertising-slot","config":{"align":"center","lazyload":true,"useDynamicChannel":false,"placementName":"RightRailFlex_Articles","slotId":"RightRailFlex_Articles1","themeName":"article","targeting":{"placement_name":"RightRailFlex_Articles","index":2}},"children":[]},{"name":"dianomi","config":{"type":"sidebar"},"children":[]},{"name":"advertising-slot","config":{"align":"center","lazyload":true,"useDynamicChannel":false,"placementName":"RightRailFlex_Articles","slotId":"RightRailFlex_Articles2","themeName":"article","targeting":{"placement_name":"RightRailFlex_Articles","index":3}},"children":[]}]},{"name":"article-media","config":{"publishDate":"","type":"image","section":"Newsletters"},"children":[{"name":"image","config":{"aspectRatio":0.6666666666666666,"attachmentId":2967284,"alt":"Virgin Galactic's VSS Unity","caption":"Virgin Galactic, which built the VSS Unity spaceship seen here, went public via a SPAC in 2019, helping ignite a record-breaking SPAC boom.","crops":[],"height":1474,"imageSize":"article-featured-image","lazyload":true,"lqipSrc":"https://content.fortune.com/wp-content/uploads/2021/03/GettyImages-1072502884-e1615985267374.jpg?quality=60&resize=60,40","postId":2967282,"retina":true,"showCaption":true,"sources":[{"transforms":{"resize":[750,500]},"descriptor":750,"media":{"min":"lg"}},{"transforms":{"resize":[500,333.34]},"descriptor":500,"media":{"min":"md"}},{"transforms":{"resize":[375,250]},"descriptor":375,"media":{"max":"md"}}],"sourceTags":[],"src":"https://content.fortune.com/wp-content/uploads/2021/03/GettyImages-1072502884-e1615985267374.jpg","srcset":"https://content.fortune.com/wp-content/uploads/2021/03/GettyImages-1072502884-e1615985267374.jpg?resize=1500,1000 1500w,https://content.fortune.com/wp-content/uploads/2021/03/GettyImages-1072502884-e1615985267374.jpg?resize=750,500 750w,https://content.fortune.com/wp-content/uploads/2021/03/GettyImages-1072502884-e1615985267374.jpg?resize=1000,666 1000w,https://content.fortune.com/wp-content/uploads/2021/03/GettyImages-1072502884-e1615985267374.jpg?resize=500,333 500w,https://content.fortune.com/wp-content/uploads/2021/03/GettyImages-1072502884-e1615985267374.jpg?resize=750,500 750w,https://content.fortune.com/wp-content/uploads/2021/03/GettyImages-1072502884-e1615985267374.jpg?resize=375,250 375w","url":"https://content.fortune.com/wp-content/uploads/2021/03/GettyImages-1072502884-e1615985267374.jpg","useBasicImg":false,"usingDataFallback":false,"width":2880,"credit":"GENE BLEVINS–AFP via Getty Images","fallbackImageUrl":"data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7","picture":false,"sizes":"(min-width: 64rem) 750px,(min-width: 48rem) 500px,(max-width: 48rem) 375px,100vw"},"children":[]}]},{"name":"article-body","config":{"mediaType":"image","premiumCategory":"P-Newsletter"},"children":[{"name":"gutenberg-content","config":{},"children":[{"name":"html","config":{"content":" u003cp>u003cem>This is the web version of u003ca rel="noreferrer noopener" href="https://mynewsletters.fortune.com/data-sheet" target="_blank">Data Sheetu003c/a>, a daily newsletter on the business of tech. Sign up to get it delivered free to your inbox. u003c/em>u003c/p> u003cp>u003cem>Slow down you crazy childu003cbr>You're so ambitious for a juvenile…u003cbr>Where's the fire, what's the hurry about?u003cbr>You better cool it off before you burn it outu003c/em>u003c/p> u003ca href="https://fortune.com/company/2875077" target="_blank">u003c/a>nu003cp>u003c!-- piano selector -->u003c/p>nu003cdiv class="paywall">n u003cp>Billy Joel's song u003cem>Viennau003c/em> was a fixture of my youth and provided not bad life advice. The incomparable Ben Platt u003ca href="https://www.youtube.com/watch?v=Sr5FP89W_Mc">covered it two years agou003c/a> on u003ca href="https://fortune.com/company/netflix" target="_blank">Netflixu003c/a> and got it back in my mental circulation. Today, it feels like the right tune for thinking about SPACs. No, seriously.u003c/p> u003cp>Blank check companies, as they used to be called, were also a fixture of my youth—that is, my youth as a reporter covering the IPO market some decades ago. But back then they were frequently fraudulent and excluded from IPO rankings. Congress cracked down on the practice of raising money and going public with no business plan other than the goal of making an acquisition and that was that, for a very long time.u003c/p> u003cp>But in kind of the same way that some enterprising lawyers read section 401(k) of the tax code and invented something new for retirement savings, some smart legal minds pored over the Securities and Exchange Commission's Rule 419, which defined an illegal blank check company, to u003ca href="https://news.spacconference.com/2021/03/09/spac-pioneers-reap-rewards-after-waiting-nearly-30-years-report/">find a way to makeu003c/a> a legal special purpose acquisition corporation, or SPAC.u003c/p> u003cp>It never amounted to much until a year or two ago, when a few really big names like Richard Branson's Virgin Galactic and betting site DraftKings went public using the technique. Its been a SPACtacular rise ever since. After totaling around $10 billion a year from 2017 through 2019, new SPAC listings hit $83.4 billion last year. And for 2021, through March 16, u003ca href="https://twitter.com/charliebilello/status/1371963982869897218">they just reachedu003c/a> $83.7 billion, a new all-time record. In a wry and lawyerly comment, David Nussbaum, who helped invent the legal SPAC back in the 1990s, told the u003cem>Wall Street Journalu003c/em> u003ca href="https://www.wsj.com/articles/they-created-the-spac-in-1993-now-theyre-reaping-the-rewards-11615285801">the other dayu003c/a> that “the reputational disadvantage SPACs had is dissipating dramatically."u003c/p> u003cp>Unfortunately, as we've been cataloging here, the SPAC boom now looks like an out-of-control bubble of speculation, particularly if you focus on EV companies like Nikola and Lordstown that have been u003ca href="https://www.thedrive.com/news/39755/lordstown-motors-faked-orders-for-electric-pickup-thats-years-behind-schedule-report">hit by allegations of misleading investorsu003c/a>. Three exchange-traded funds just own SPACs. Now another is u003ca href="https://www.bloomberg.com/news/articles/2021-03-16/five-months-after-first-spac-etf-the-de-spac-funds-are-coming">debutingu003c/a> that will only short SPACs. Interest is also brewing in Congress u003ca href="https://www.reuters.com/article/us-usa-spacs-breakingviews-idUSKBN2B828D">to curb one of the big advantagesu003c/a> in using a SPAC: the ability offer heady forecasts of future growth, forecasts that can seem worth little more than the napkins on which they were first dreamed up. (In a traditional IPO, companies have to stick to the historical financials, verified by an outside auditor, thank you very much.)u003c/p> u003cp>These kind of things never end well. I fear the SPACpocalypse is near. Like the song goes, "You can get what you want or you can just get old, you're gonna kick off before you even get halfway through."u003c/p> u003chr class="wp-block-separator"/> u003cp>In naming some of the top makers of electric pickup trucks on Monday, some of you pointed out that I left out some companies with very cool concepts. In fact it was seeing a video of u003ca href="https://www.press.canoo.com/press-release/canoos-new-pickup-is-all-electric-all-american-ready-for-work-the-weekend">Canoo's bubbly shaped pickupu003c/a> that sparked the idea for the essay. But Canoo, u003ca href="https://www.motorauthority.com/news/1131567_the-alpha-wolf-ev-pickup-is-the-electric-truck-we-want">Alphau003c/a>, and some others are aiming to deliver trucks in 2023 and beyond, so not good candidates for including on a list betting on who will be first to market in 2021.u003c/p> u003cp>u003cstrong>Aaron Pressmanu003c/strong>u003cbr>u003ca href="https://twitter.com/ampressman?lang=en">@ampressmanu003c/a>u003cbr>u003ca href="mailto:aaron.pressman@fortune.com">aaron.pressman@fortune.comu003c/a>u003c/p> u003ch3>NEWSWORTHYu003c/h3>nu003cp>u003cstrong>Hit me, kick me, you can never get meu003c/strong>. The teenager who cracked the u003cstrong>Twitteru003c/strong> accounts of the rich and famous to get a little more rich himself is going to prison. Graham Ivan Clark u003ca href="https://www.tampabay.com/news/crime/2021/03/16/tampa-twitter-hacker-agrees-to-three-years-in-prison-in-plea-deal/">pled guilty on Tuesdayu003c/a> and agreed to serve a sentence of three years. Under the plea deal, Clark was sentenced as a “youthful offender,” avoiding a 10-year sentence that applies to adults who committed his crimes. In other legal news, conceding to the reality of losing in court, u003cstrong>Uberu003c/strong> agreed on Tuesday u003ca href="https://fortune.com/2021/03/16/uber-u-k-drivers-worker-rights-court-ruling/">to classify its 70,000 U.K. driversu003c/a> as company workers. That means the drivers get minimum wage protection and some other benefits.u003c/p>nu003cp>u003cstrong>Nice little app you got here, be a shame if anything happened to itu003c/strong>. Speaking of conceding to reality, u003cstrong>Googleu003c/strong> u003ca href="https://www.adweek.com/media/google-will-lower-some-payment-fees-for-app-developers/">announced it would loweru003c/a> its cut of app sales to 15% on the first $1 million of revenue for every developer, large or small. That’s more straightforward than u003cstrong>Apple’su003c/strong> bizarrely complex policy of making developers apply to qualify for the lower 15% cut if their sales were under $1 million the previous year. Google would have lost $587 million, or 5% of its app store revenue, if the policy had been in place last year, research firm Sensor Tower u003ca href="https://www.cnbc.com/2021/03/16/google-apple-giving-up-less-than-5percent-of-revenue-from-apps-with-pay-changes-estimate.html">estimatesu003c/a>. Apple’s policy has a cost of $595 million, or almost 3% of its app store sales. The cuts aren’t helping deflect antitrust pressure just yet. The u003cstrong>states led by Texasu003c/strong> suing Google expanded their case on Tuesday, u003ca href="https://www.politico.com/news/2021/03/16/texas-advertisers-antitrust-fight-google-476250">adding the search giant’su003c/a> recent effort to eliminate tracking cookies.u003c/p>nu003cp>u003cstrong>u003cimg loading="lazy" class="alignleft size-medium wp-image-2967287" src="https://content.fortune.com/wp-content/uploads/2021/03/giphy.gif?w=300" alt="" width="300" height="274" />No silicon in the cupboardu003c/strong>. The chip shortage is very real and even the leading manufacturers don’t have enough for themselves. u003cstrong>Samsungu003c/strong> says u003ca href="https://www.bloomberg.com/news/articles/2021-03-17/samsung-warns-of-serious-imbalance-in-the-chips-industry">it may skip offeringu003c/a> an updated Galaxy Note phone this year amid a “serious imbalance” in chip supplies. The company is expected to u003ca href="https://www.cnet.com/news/samsungs-cheaper-galaxy-a-phones-get-the-spotlight-at-unpacked/">offer a new phone of some kindu003c/a> at an event later today. Meanwhile u003cstrong>Intelu003c/strong> u003ca href="https://siliconangle.com/2021/03/16/intel-refreshes-desktop-processor-portfolio-new-rocket-lake-s-chips/">debutedu003c/a> its 11th generation desktop processors but, due to its manufacturing difficulties, they are built on the 14-nanometer technology that was introduced six years ago. And they say Moore’s Law isn’t dead. Kind of a u003cem>Weekend at Bernie’su003c/em> situation then? That may not be a fair conclusion when u003cstrong>AMDu003c/strong> this week u003ca href="https://arstechnica.com/gadgets/2021/03/amds-zen3-comes-to-the-server-room-with-epyc-milan/">introducedu003c/a> a new version of its Epyc processor for servers built on a 7-nanometer process.u003c/p>nu003cp>u003cstrong>Nada coinu003c/strong>. In crypto world, the NFT flames burn hotter: u003cstrong>Elon Musku003c/strong> u003ca href="https://fortune.com/2021/03/16/elon-musk-nft-tweet-auction-bidding-worth/">decidedu003c/a> to sell a non-fungible token linked to one of his tweets. But after bidding u003ca href="https://v.cent.co/tweet/1371549960030842893">appeared to have stalledu003c/a> out at $1.1 million this morning, Musk u003ca href="https://www.cnbc.com/2021/03/17/elon-musk-turns-down-1-million-offer-to-buy-his-tweet-as-an-nft.html">revoked the offeru003c/a>. At the other end of the spectrum, famed u003cstrong>Columbia economist Jeffrey Sachsu003c/strong> is not a fan of cryptocurrency. In case there was any ambiguity, u003ca href="https://fortune.com/2021/03/16/bitcoin-jeffrey-sachs-critiques-btc/">he cleared it upu003c/a>: “I am not a fan at all of u003cstrong>Bitcoinu003c/strong>,” adding he considers bitcoin an “unbelievable waste of resources and a highly polluting waste of power, a lot of CO2 emissions resulting from nothing of social value.”u003c/p>nu003cp>u003cstrong>To sleep, perchance to traceu003c/strong>. Want to track your sleep without having to wear a smartwatch to bed? u003cstrong>Googleu003c/strong> u003ca href="https://fortune.com/2021/03/16/google-nest-hub-sleep-tracking/">claims its new smart screenu003c/a>, the Nest Hub, can tell how long you’ve been snoozing via radar. I hope it’s also on the look out for UFOs, falling debris, and flying monkeys—that would be a real service.u003c/p>nu003ch3>FOOD FOR THOUGHTu003c/h3>nu003cp>We haven’t seen Adam Neumann, the deposed CEO and co-founder of WeWork, in the news much lately, which is a shame for fans of ultra-crazy management hijinks. But a new documentary is coming out this week called u003cem>WeWork: Or the Making and Breaking of a $47 Billion Unicorn u003c/em>that should satisfy our cravings. u003cem>Fortune’su003c/em> Martine Paris u003ca href="https://fortune.com/2021/03/15/wework-documentary-director-jed-rothstein-adam-neumann-sxsw-hulu/">interviewed directoru003c/a> Jed Rothstein and asked what surprised him most in the making of the film.u003c/p>nu003cp>u003cem>I was surprised by the emotionally charged and complicated journey that former employees had with the “We” and the “Me” of Adam Neumann. He was a charismatic leader that many followed and in the end felt deeply betrayed by. At the same time, many shared a sense of fulfillment for having strived for the dream.u003c/em>u003c/p>nu003ch3>IN CASE YOU MISSED ITu003c/h3>nu003cp>u003cstrong>u003ca href="https://fortune.com/2021/03/16/inovia-tech-fund-expansion-europe/">Twitter chairman’s venture capital firm Inovia looks to investments in Europeu003c/a>u003c/strong> u003cem>By Siva Sithraputhranu003c/em>u003c/p>nu003cp>u003cstrong>u003ca href="https://fortune.com/2021/03/16/elon-musk-net-worth-tesla-stock-tsla-options-compensation-plan/">The daring architecture of Elon Musk’s compensation plan has the Tesla CEO on track to make historyu003c/a>u003c/strong> u003cem>By Shawn Tullyu003c/em>u003c/p>nu003cp>u003cstrong>u003ca href="https://fortune.com/2021/03/16/wallstreetbets-reddit-gamestop-adopt-gorillas-dian-fossey/">The r/WallStreetBets crowd has a new target: Saving gorillasu003c/a>u003c/strong> u003cem>By Chris Morrisu003c/em>u003c/p>nu003cp>u003cstrong>u003ca href="https://fortune.com/2021/03/17/stimulus-check-bitcoin-price-predictions-3rd-round-irs-stimulus-checks-direct-deposit-payments-update/">Will stimulus checks take Bitcoin even higher? One analyst thinks sou003c/a>u003c/strong> u003cem>By Lance Lambertu003c/em>u003c/p>nu003cp>u003cstrong>u003ca href="https://fortune.com/2021/03/16/cyber-firm-recorded-future-buys-dark-web-gemini-advisory/">Cyber firm Recorded Future buys ‘dark web’ infiltrator for $52 millionu003c/a>u003c/strong> u003cem>By Robert Hackettu003c/em>u003c/p>nu003cp>u003cstrong>u003ca href="https://fortune.com/2021/03/16/cybersecurity-talent-shortage-product-design-skilled-workers/">To fix the cybersecurity talent shortage, we need smarter product designu003c/a>u003c/strong> u003cem>By Abhishek Agrawalu003c/em>u003c/p>nu003cp>u003cstrong>u003ca href="https://fortune.com/2021/03/17/apple-privacy-changes-app-tracking-antitrust-france/">France refuses to block Apple’s big privacy changesu003c/a>u003c/strong> u003cem>By David Meyeru003c/em>u003c/p>nu003cp>(u003cem>Some of these stories require a subscription to access. Thank you for supporting our journalismu003c/em>.)u003c/p>nu003ch3>BEFORE YOU GOu003c/h3>nu003cp>The Perseverance rover has been on Mars for about a month now, but hasn’t moved around much yet. The date of the first drone helicopter take off on another planet is also still TBD. But u003cem>Natureu003c/em> has a rundown of u003ca href="https://www.nature.com/articles/d41586-021-00698-5">all the interesting science stuffu003c/a> the rover has been doing in the meanwhile. It’s midweek and the red planet is high overhead. Stay inspired.u003c/p>nu003c/div>n"},"children":[]}]}]},{"name":"advertising-slot","config":{"align":"center","lazyload":false,"useDynamicChannel":false,"placementName":"Outstream","slotId":"Outstream0","themeName":"article","targeting":{"placement_name":"Outstream","index":1}},"children":[]},{"name":"dianomi","config":{"type":"footer"},"children":[]}]}]}]}},"componentData":{},"error":null,"loading":false,"player":{"currentTime":0,"duration":0,"loading":false,"playing":false,"seek":0,"src":"","visible":false,"volume":0.5},"route":{"status":200,"redirectTo":"","redirectStatus":0,"action":"PUSH","pathname":"/2021/03/17/spacs-just-broke-the-annual-record-for-new-issuance-in-march/","search":"?","hash":""},"visible":{"search":false,"primaryNav":false,"freestar":false,"adminBar":false},"contactForm":{"submitting":false,"submitted":false,"failed":false,"validation":{},"redirect":""},"user":{"isLoggedIn":false,"accessLevel":null}}; ]]> response.json()) .then(function (data) { signPackage = data; wx.config(data); wx.ready(function () { wx.updateTimelineShareData({ title: title, link: url, imgUrl: img, success: function () {}, cancel: function () {} }); wx.updateAppMessageShareData({ title: title, desc: desc, link: url, imgUrl: img, success: function () {}, cancel: function () {} }); wx.error(function (res) { //location.href = g_url; }); }); }) } }; script.src = "https://res.wx.qq.com/open/js/jweixin-1.6.0.js"; document.head.appendChild(script); } ]]> You need to enable JavaScript to view this site.
Source

Leave a Reply

Your email address will not be published. Required fields are marked *

THIS WEB IS ONLY FOR APPSUMO  DEALS. IF YOU WANT NON APPSUMO DEALS, GO TO OUR SYSTER PAGE BESTSOFTWAREFOR.COM
Copyright © Saasale.com