It shouldn’t come as a surprise, but seeing the numbers is still a bit of a shock. As of March 11, 258 global SPAC IPOs have come to market, lapping the full-year annual record of 256 set during 2020, according to financial data company Refinitiv. And it’s only mid-March. 

Global SPAC IPO proceeds totaled $76.7 billion so far in 2021, which puts the value just $2.5 billion behind the total from 2020. U.S. SPACs have dominated the marketplace, with 250 blank check companies brought to market so far this year, up from just 13 at this point last year. Yes, 250 compared to 13.