All Industries
Volume
# of traditional IPOs
# of SPACs
Volatility
Average quarterly VIX
Volume
360
320
280
240
200
160
120
80
40
0
Volatility (VIX)
45
40
35
30
25
20
15
10
5
0
Q1 '20
Q2 '20
Q3 '20
Q4 '20
Q1 '21
Q2 '21
Q3 '21
Q4 '21
Q1 '22
Q2 '22
Q3 '22
Q4 '19
All Industries
Consumer & Retail
Energy/Natural Resources & Chemicals
Financial Services
Healthcare/Life Sciences
Industrial Manufacturing
Technology/Media/Telecom
All Industries
Technology/Media/Telecom
Industrial Manufacturing
Healthcare/Life Sciences
Financial Services
Energy/Natural Resources & Chemicals
Consumer & Retail
Consumer & Retail
All Industries
Consumer & Retail
Technology/Media/Telecom
Industrial Manufacturing
Healthcare/Life Sciences
Financial Services
Energy/Natural Resources & Chemicals
Energy/Natural Resources & Chemicals
All Industries
Energy/Natural Resources & Chemicals
Consumer & Retail
Technology/Media/Telecom
Industrial Manufacturing
Healthcare/Life Sciences
Financial Services
Financial Services
All Industries
Financial Services
Energy/Natural Resources & Chemicals
Consumer & Retail
Technology/Media/Telecom
Industrial Manufacturing
Healthcare/Life Sciences
Healthcare/Life Sciences
All Industries
Healthcare/Life Sciences
Financial Services
Energy/Natural Resources & Chemicals
Consumer & Retail
Technology/Media/Telecom
Industrial Manufacturing
Industrial Manufacturing
All Industries
Industrial Manufacturing
Healthcare/Life Sciences
Financial Services
Energy/Natural Resources & Chemicals
Consumer & Retail
Technology/Media/Telecom
Technology/Media/Telecom
95
164
20.2
40
13.2
33
37.5
45
30.7
83
25.7
74
27.1
110
26.8
118
17.1
105
19.3
33
25.2
26
29.4
34
26.3
17
12
22
82
128
297
63
87
56
15
8
Note: The sum of sectoral SPAC IPOs might not be equal to the overall SPAC IPOs in the quarter due to double counting in cases where any SPAC would have shown interest in multiple sectors.
2
1
13.2
6
1
37.5
4
1
30.7
5
14
25.7
11
14
27.1
11
69
26.8
18
8
17.1
16
13
19.3
13
30
20.2
3
5
25.2
2
7
29.4
8
0
26.3
1
1
13.2
0
1
37.5
0
0
30.7
0
6
25.7
0
7
27.1
5
29
26.8
3
5
17.1
1
7
19.3
0
31
20.2
0
5
25.2
2
3
29.4
0
0
26.3
10
2
13.2
9
0
37.5
4
1
30.7
12
8
25.7
11
11
27.1
15
51
26.8
7
7
17.1
20
15
19.3
17
19
20.2
7
5
25.2
2
2
29.4
5
1
26.3
18
4
13.2
13
2
37.5
24
4
30.7
35
15
25.7
35
25
27.1
42
70
26.8
47
14
17.1
38
20
19.3
33
35
20.2
12
7
25.2
8
4
29.4
8
1
26.3
2
2
13.2
2
0
37.5
3
30.7
13
8
25.7
6
6
27.1
17
26.8
9
5
17.1
6
9
19.3
11
21
20.2
4
25.2
7
3
29.4
4
1
26.3
1
42
5
7
5
13.2
3
4
37.5
10
10
30.7
18
38
25.7
11
56
27.1
20
187
26.8
34
29
17.1
24
53
19.3
21
83
20.2
7
28
25.2
5
10
29.4
9
2
26.3