New York Stock Exchange building is seen decorated for Christmas at the Financial District in New York City, United States on November 30, 2020.
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IPOs vs. SPACs: Who will win in 2021?
2020 was a surprisingly good year for IPOs, but it was an even better year for Special Purpose Acquisition Companies (SPACs).
There were 194 traditional IPO deals raised $67 billion, the best year since 2014, according to Renaissance Capital. But it was an even better year for SPACs, which raised just about the same amount: 200 SPACs raised about $64 billion.
SPACs are companies with no commercial operations that are established solely to raise capital from investors for…