Spartan Capital

Spartan Capital appears on the underwriting syndicate of 2 special purpose acquisition company IPOs in our index, including Aimei Health Technology Co., Ltd. (AFJK) and AlTi Global, Inc. (ALTI). The full list, with the role credited on each cover page, is in the mandates table on this page.

Spartan Capital was credited as a book-running manager on 1 of its 2 SPAC mandates, 50% of them. The remainder are co-manager or syndicate positions, where the economics and the sponsor relationship sit elsewhere.

$362M of gross proceeds across every offering Spartan Capital was named on. That is the conventional league-table measure, which credits the full deal to each syndicate member. The narrower figure is its own allocation: $74.5M, being the units the underwriting agreements assigned to Spartan Capital specifically, priced at the $10 standard SPAC unit.

AlTi Global, Inc. (ALTI), which raised $350M in Feb 2021. Spartan Capital was credited as a syndicate member on that offering.

1 of the SPACs Spartan Capital underwrote closed a combination: AlTi Global, Inc.. Closing means the vehicle filed a current report reporting completion of the acquisition. That is an outcome, not a return.

1 vehicles Spartan Capital took public are still live, either searching or working towards an announced combination: Aimei Health Technology Co., Ltd. (AFJK). Their combination deadlines are on each profile.

100%. Of the 1 vehicles Spartan Capital underwrote that have already resolved, 1 closed a business combination and 0 liquidated. The market-wide figure is 59.5%, so Spartan Capital sits above it. SPACs still searching are excluded, because an unfinished clock is not a result. The rate measures the vehicles, not the bank: a syndicate has no control over whether a sponsor finds a target.

Measured against the $10.00 the units were sold at, the only baseline every SPAC shares, the strongest of Spartan Capital's closed deals currently is AlTi Global, Inc. (ALTI) at $3 a share. Treat that as a snapshot, not a return: it ignores dividends, splits, warrant exercise and anything that happened in between, because historical price series are not part of our data. For a proper total-return comparison use your market-data provider with the post-merger tickers.

Aimei (1 deal) and CGC (1 deal). Sponsor franchises are resolved from the sponsor entity named in each prospectus, so repeat issuers group together even though every vehicle is a separate legal entity.

Most often B. Riley Securities (1) and Cantor Fitzgerald (1). Syndicate composition is read from the prospectus cover and the underwriting section, so these are co-appearances on the same offering, not a commercial relationship we have any other visibility into.

Its first SPAC IPO in our index priced Feb 25, 2021 and the most recent Dec 6, 2023. 1 of its vehicles are still live, so the franchise is active.

2021, with 1 mandate worth $350M of gross proceeds. The chart on this page shows the full year-by-year run, which for most houses traces the 2020-21 boom and the retreat that followed.

The average offering it has been named on raised $181M, against a range from $12.5M to $350M. Deal size is a reasonable proxy for where a house sits in the market: the bulge bracket concentrates on larger trusts, the SPAC specialists on smaller ones.

Technology (1), Healthcare (1) and Generalist (1). Mandates are read from charter language in the prospectus and are often deliberately broad. Many SPACs reserve the right to pursue any industry, in which case no sector is tagged at all.

Nasdaq (2). Listing venue is taken from the exchange record on the registrant's SEC profile.

None in our index. Either its vehicles closed a deal or they are still inside their combination window.

Every figure is read from filings the registrants made with the SEC. Syndicate membership and role come from the prospectus cover and the underwriting section of each IPO prospectus (Form 424B4); outcomes come from the filing record: a current report announcing completion, or a delisting notice ending a liquidation. Nothing here is sourced from press coverage or from Spartan Capital itself.