Actionable Ideas for Companies and Sponsors

European SPAC IPO Market Gaining Momentum

The SPAC IPO market in Europe is seeing increasing issuance after record levels in the U.S. We expect this trend to accelerate as European companies aggressively pursue the alternative of going public through a European-listed SPAC.

These European-listed SPACs have the same structural features of U.S. SPACs, including the sponsor promote. While U.S. style SPACs can be listed in most European countries, Euronext Amsterdam is becoming a natural venue for SPACs looking at pan-European investment opportunities. In the UK, there are ongoing regulatory discussions to make near-term rule changes to open the UK listed SPAC market. As in the U.S., SPAC sponsors should have public company experience, a track record of achieving attractive returns for investors, access to deal flow, and the ability to commit capital.