SPACs have raised over $38 billion in 2021, but new NYSE rule looms

  • 📰 CNBC
  • ⏱ Reading Time:
  • 62 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 72%

United States Headlines News

United States Latest News,United States Headlines

A new direct listing rule 'democratizes access' to public listings on the NYSE on the first day of trading, Exchange President Stacey Cunningham said.

The 2021 IPO market is already on fire six weeks into the new year, with SPACs leading the way.

SPACs have raised more than $38 billion year to date, with an average of $296 million for 128 SPAC IPOs, according to. That's nearly half the money raised by SPACs in 2020. Last year, SPACs hauled in a record $83 billion with an average of nearly $335 million for 248 listings. This year's numbers dwarf those in previous years. In 2019, only $13.6 billion were raised through SPACs. In 2018 and 2017, they collected $10.7 billion and $10 billion, respectively.

The big question this year is how a change to the New York Stock Exchange's direct listing rules will impact the IPO market., will allow companies to raise fresh capital through direct listings as opposed to just selling existing shares. Under the change, companies can raise cash from retail investors as well as by selling existing shares of the company. Making direct listings more attractive could cut demand for a SPAC or traditional initial public offerings.

"Everyone's on a level playing field," NYSE President Stacey Cunningham told CNBC when talking about the new rule. "What's great about it is it democratizes access to that public listing on the exchange on that first day of trading."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Alternating stars DOGE Elon's dog mouth currency ElonMask tries to bark often to create value. The alternating trajectory of stars 1 equals 3 and 2 equals 4. No. 5 Duration 3 days 14 hours The barking out of ElonMusk ,Will generate a current according to channel 1 or 3

IPO market or the market in general? Maybe not broken but definitely rigged and corrupt. See: RobinhoodApp

Hallmark of mania. Hard to pinpoint the underlying problem or what this possible bubble actually is but there is no doubt that many many companies are wildly overvalued.

JPow looks like a Man that gets an Oil Change every 3,000 miles.

I wouldn't touch a SPAC at this point

We kinda like the way the red dot looks on the Prime logo.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fashion Trends That Will Be Popular in 2021 2021 / 2022 » Fashion AllureThe good thing about the latest fashion trend is that they will not cost you a lot as some are from last year and they never really got a chance to shine. Here are the fashion trends that are expected to be popular in 2021.
Source: efashionallure - 🏆 721. / 51 Read more »

The 2021 Jeep Gladiator vs. 2021 Honda Ridgeline: 2 midsize pickups comparedThe Gladiator offers Jeep capabilities with a pickup bed while the Honda Ridgeline includes a strong legacy of reliability. Which is better? retweet
Source: MarketWatch - 🏆 3. / 97 Read more »

STRIKE for Vanessa 2021 by Strike for Vanessa 2021In 2021, our signature self-defense workshop, created by celebrity trainer, Avital Zeisler, will be virtual, FREE and for all genders. Join us as we take a stand against violence. The class will have an exciting, fitness twist, and conclude with one minute of striking silence as we honor the life of Vanessa Marcotte.
Source: runnersworld - 🏆 19. / 71 Read more »

We compare the 2021 Kia Forte to the 2021 Toyota CorollaThe Kia Forte touts its excellent features and warranty in taking on the Toyota Corolla. Here’s how they compare.
Source: MarketWatch - 🏆 3. / 97 Read more »

See how the 2021 Bronco Sport compares with the 2021 Toyota RAV4The new Ford Bronco Sport faces off against the bestselling Toyota RAV4. Which is better?
Source: MarketWatch - 🏆 3. / 97 Read more »