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  "documentTitle": "ey global ipo trends 2023 q1 v1",
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  "authorName": "EY",
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  "notes": "Includes data from 2019 to YTD 2023. Sources: EY analysis, Dealogic, SPACInsider.",
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      "text": "Of more than 390 US de-SPAC mergers completed between 2019 and 2023 year-to-date (YTD), 90% were trading below US$10, as of 21 March 2023.",
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      "text": "De-SPAC post-merger",
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      "text": "YTD 2023 data consists of listed SPAC IPOs, SPAC liquidation or de-SPAC mergers activity between 1 January 2023 to 21 March 2023. Sources: EY analysis, Dealogic, SPACInsider.",
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      "text": "SPAC IPO volume: 90%",
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      "kind": "quote",
      "text": "Higher redemption and a shortfall in private investment in public equity (PIPE) caused lower-than-expected capital raised post-merger.",
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      "text": "Companies are finding it difficult to access the capital markets, due to poor share price performance and low liquidity in their stocks.",
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