Analysis
Notes from the desk
What the filing record shows about the market. The monthly reviews are compiled from the filings themselves; the rest is written by the desk.
Market review
The SPAC market in September 2026
8 IPOs, 13 deals announced, 3 closed, 4 wound up in the U.S. SPAC market in September 2026, with trust sizes, targets and outcomes, compiled from SEC filings.
Oct 1, 2026
Market
Why most SPACs never close a deal
Across the resolved universe, more vehicles have returned their trust than have completed a combination. The filing record explains why, and it is mostly arithmetic rather than misfortune.
Sep 4, 2026
Market review
The SPAC market in August 2026
15 IPOs, 8 deals announced, 2 closed, 4 wound up in the U.S. SPAC market in August 2026, with trust sizes, targets and outcomes, compiled from SEC filings.
Sep 1, 2026
Market review
The SPAC market in July 2026
17 IPOs, 10 deals announced, 4 closed, 4 wound up in the U.S. SPAC market in July 2026, with trust sizes, targets and outcomes, compiled from SEC filings.
Aug 1, 2026
Market review
The SPAC market in June 2026
21 IPOs, 14 deals announced, 3 closed, 7 wound up in the U.S. SPAC market in June 2026, with trust sizes, targets and outcomes, compiled from SEC filings.
Jul 1, 2026
Market review
The SPAC market in May 2026
22 IPOs, 8 deals announced, 2 closed, 3 wound up in the U.S. SPAC market in May 2026, with trust sizes, targets and outcomes, compiled from SEC filings.
Jun 1, 2026
Market review
The SPAC market in April 2026
16 IPOs, 12 deals announced, 2 closed in the U.S. SPAC market in April 2026, with trust sizes, targets and outcomes, compiled from SEC filings.
May 1, 2026
Market review
The SPAC market in March 2026
12 IPOs, 5 deals announced, 7 closed, 6 wound up in the U.S. SPAC market in March 2026, with trust sizes, targets and outcomes, compiled from SEC filings.
Apr 1, 2026
Market review
The SPAC market in February 2026
30 IPOs, 3 deals announced, 1 closed, 2 wound up in the U.S. SPAC market in February 2026, with trust sizes, targets and outcomes, compiled from SEC filings.
Mar 1, 2026
Market review
The SPAC market in January 2026
24 IPOs, 3 deals announced, 1 closed, 4 wound up in the U.S. SPAC market in January 2026, with trust sizes, targets and outcomes, compiled from SEC filings.
Feb 1, 2026
Market review
The SPAC market in December 2025
23 IPOs, 7 deals announced, 3 closed, 3 wound up in the U.S. SPAC market in December 2025, with trust sizes, targets and outcomes, compiled from SEC filings.
Jan 1, 2026
Market review
The SPAC market in November 2025
10 IPOs, 7 deals announced, 1 closed, 1 wound up in the U.S. SPAC market in November 2025, with trust sizes, targets and outcomes, compiled from SEC filings.
Dec 1, 2025
Market review
The SPAC market in October 2025
16 IPOs, 8 deals announced, 2 closed, 2 wound up in the U.S. SPAC market in October 2025, with trust sizes, targets and outcomes, compiled from SEC filings.
Nov 1, 2025
Market review
The SPAC market in September 2025
13 IPOs, 5 deals announced, 3 closed, 1 wound up in the U.S. SPAC market in September 2025, with trust sizes, targets and outcomes, compiled from SEC filings.
Oct 1, 2025
Market review
The SPAC market in August 2025
9 IPOs, 4 deals announced, 1 closed, 4 wound up in the U.S. SPAC market in August 2025, with trust sizes, targets and outcomes, compiled from SEC filings.
Sep 1, 2025
Market review
The SPAC market in July 2025
13 IPOs, 7 deals announced, 4 closed, 16 wound up in the U.S. SPAC market in July 2025, with trust sizes, targets and outcomes, compiled from SEC filings.
Aug 1, 2025
Market review
The SPAC market in June 2025
12 IPOs, 1 deal announced, 4 closed, 10 wound up in the U.S. SPAC market in June 2025, with trust sizes, targets and outcomes, compiled from SEC filings.
Jul 1, 2025
Market review
The SPAC market in May 2025
23 IPOs, 1 deal announced, 2 closed, 12 wound up in the U.S. SPAC market in May 2025, with trust sizes, targets and outcomes, compiled from SEC filings.
Jun 1, 2025
Market review
The SPAC market in April 2025
12 IPOs, 4 deals announced, 1 closed, 5 wound up in the U.S. SPAC market in April 2025, with trust sizes, targets and outcomes, compiled from SEC filings.
May 1, 2025
Market review
The SPAC market in March 2025
4 IPOs, 1 deal announced, 1 closed, 11 wound up in the U.S. SPAC market in March 2025, with trust sizes, targets and outcomes, compiled from SEC filings.
Apr 1, 2025
Market review
The SPAC market in February 2025
8 IPOs, 1 deal announced, 4 closed, 4 wound up in the U.S. SPAC market in February 2025, with trust sizes, targets and outcomes, compiled from SEC filings.
Mar 1, 2025
Market review
The SPAC market in January 2025
9 IPOs, 3 deals announced, 3 closed, 4 wound up in the U.S. SPAC market in January 2025, with trust sizes, targets and outcomes, compiled from SEC filings.
Feb 1, 2025