TY - JOUR T1 - SPACs as Alternative Investments JF - The Journal of Private Equity SP - 8 LP - 15 DO - 10.3905/jpe.2008.707198 VL - 11 IS - 3 AU - Carol Marie Boyer AU - G. Glenn Baigent Y1 - 2008/05/31 UR - https://pm-research.com/content/11/3/8.abstract N2 - 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 ER -