(Reuters) - Wall Street thought 2020 was a frenetic year for special purpose acquisition companies (SPACs).
FILE PHOTO: The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri
Yet with more than nine months to go until the end of 2021, initial public offerings (IPOs) of U.S. SPACs this week surpassed the $83.4 billion the sector raised in all of 2020, data from industry tracker SPAC Research showed.
This is also more than the $29.5 billion that IPOs of companies that operate businesses - as opposed to being empty shells like SPACs - have raised since the start of the year, according to IPOScoop data.
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