PT  - JOURNAL ARTICLE
AU  - Carol Marie Boyer
AU  - G. Glenn Baigent
TI  - SPACs as Alternative Investments
AID  - 10.3905/jpe.2008.707198
DP  - 2008 May 31
TA  - The Journal of Private Equity
PG  - 8--15
VI  - 11
IP  - 3
4099  - https://pm-research.com/content/11/3/8.short
4100  - https://pm-research.com/content/11/3/8.full
AB  - This study provides an analysis of the U.S. market for Special Purpose Acquisition Corporations (SPACs) starting with a description of how the investment vehicles are structured, provides a brief history, explains the purpose that they serve in the IPO market, and documents the sizeable growth of the industry. The analysis provides various descriptive statistics such as the pricing structure, 1st year returns, 1st day returns, trading volume, size, and trust amounts. Lastly, we examine the relationship between the warrant price, share price, and other SPAC variables using regression models.TOPICS: Private equity, exchanges/markets/clearinghouses, statistical methods, financial crises and financial market history