An empirical study on value drivers of the next generation of special purpose acquisition companies (spacs) in the United States

Queiró, FranciscoLadwein, Julian Alexander2022-07-182022-07-182022-01-112021-12-17http://hdl.handle.net/10362/142017SPACs are one of the most discussed investment opportunities of the last years. In the mean time, a lot has changed: Media coverage, public interest, regulation, and their reputation. In this Master Thesis the performance of the latest SPAC generation is analysed at the three most important stages: IPO, merger announcement and the short-term after announcement window. The results get compared with the literature in IPOs, M&A and private equity as well as current research about previous SPAC generations. The results show: Pre-merger and merger performance is positive while post-merger performance is better than expectedengIpoPrivate equityMergers and acquisitionsSpacSpecial purpose acquisition companyUnderpricingAn empirical study on value drivers of the next generation of special purpose acquisition companies (spacs) in the United Statesmaster thesis202997952