FCF Life Sciences
SPAC Monitor

The FCF Life Sciences SPAC Monitor is a quarterly published overview focusing on the performance of life sciences companies after the merger (announcement) with a Special Purpose Acquisition Company (SPAC).

Key Findings of this FCF Life Sciences SPAC Monitor are:

  • Since May 2020, 611 SPACs have been successfully listed on a public stock exchange. The current SPAC IPO pipeline consists of 324 SPACs
  • More than half of the IPOs took place within the 1st Quarter of 2021 (317 IPOs)
  • However, both the number of successful SPAC IPOs and the current SPAC IPO pipeline have been stagnating since April 2021. A potential reason could be an official statement published by the SEC in mid-April 2021 expressing its concerns about the current treatment of SPAC warrants as equity
  • There are currently 15 healthcare companies that successfully merged with a SPAC
    • In total, SPACs have acquired USD 3.54bn in life sciences assets, which are currently valued at USD 17.16bn (market cap)
    • The acquisition of SOC Telemed, Inc. by Healthcare Merger Corp. has been the largest acquisition so far that amounted to USD 720m
    • The greatest increase in share price since acquisition announcement has been observed at AdaptHealth Corp. (acquired by DFB Healthcare Acquisitions Corp.) by 156%
    • Since inception, the FCF Life Sciences SPAC Index increased by 9%
FCF Life Sciences SPAC Monitor

Key Findings of this FCF Life Sciences SPAC Monitor are:

  • Since May 2020, 611 SPACs have been successfully listed on a public stock exchange. The current SPAC IPO pipeline consists of 324 SPACs
  • More than half of the IPOs took place within the 1st Quarter of 2021 (317 IPOs)
  • However, both the number of successful SPAC IPOs and the current SPAC IPO pipeline have been stagnating since April 2021. A potential reason could be an official statement published by the SEC in mid-April 2021 expressing its concerns about the current treatment of SPAC warrants as equity
  • There are currently 15 healthcare companies that successfully merged with a SPAC
    • In total, SPACs have acquired USD 3.54bn in life sciences assets, which are currently valued at USD 17.16bn (market cap)
    • The acquisition of SOC Telemed, Inc. by Healthcare Merger Corp. has been the largest acquisition so far that amounted to USD 720m
    • The greatest increase in share price since acquisition announcement has been observed at AdaptHealth Corp. (acquired by DFB Healthcare Acquisitions Corp.) by 156%
    • Since inception, the FCF Life Sciences SPAC Index increased by 9%

Quoted in the Press

Press Release

FCF Life Sciences in the Börse Online magazine | 19. April 2021

FCF Life Sciences in the Börse Online magazine | 19. April 2021 The Life Sciences team at FCF Fox Corporate Finance has recently published an analysis on Special Purpose Acquisition Companies (SPACs) with a focus on healthcare, among others, in the Börse Online magazine. The analysis includes the number and volume of healthcare SPAC IPOs to date, as well as the share price performance of healthcare companies already acquired by SPACs. FCF concludes that the companies’ stock prices have increased on average by 12% since the acquisition was announced. For more information, please check out the recently published FCF Life

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Press Release

FCF Life Sciences: Boom Bei Healthcare-SPACS Ungebrochen | GoingPublic 13.04.2021

Der Boom um Special Purpose Acquisition Companies, auch SPACs genannt, setzt sich 2021 ungebremst fort. Lag die Zahl der SPAC-Börsengänge im gesamten Jahr 2020 noch bei 306 SPAC-IPOs, liegt sie in den ersten drei Monaten dieses Jahres bereits bei 246. Von Dr. Mathias Schott und Alexander Kuhn „2021 wird das Jahr der SPACs. Gerade für kosten- und forschungsintensive Healthcare-Unternehmen bieten SPACs einen schnellen und effizienten Weg an die Börse und zu notwendiger Liquidität“, sagt Dr. Mathias Schott, Leiter von FCF Life Sciences. So steigt die Zahl der SPAC-Börsengänge mit Fokus auf den Healthcare-Bereich bereits jetzt sprunghaft an: Nach 78 IPOs

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RESEARCH

We constantly engage in capital markets research to identify financing trends early in the Life Sciences sector. Our research focuses on the most relevant equity markets: Venture Capital, Public Equity, Initial Public Offerings (IPO). The findings are currently published in the following publications:

Licensing

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Recent licensing trends of European Biotech companies in China

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