Q1 2018 SPAC Underwriting IPO League Table
Below is the recently released Q1 2018 SPAC IPO Underwriting League Table
Deutsche Bank took the top spot in the first quarter of 2018, with three Special Purpose Acquisition Company (SPAC) transactions and a total volume of $850 million. DB was the bookrunner/lead for Platinum Eagle, Nebula and DFB Healthcare, which were some of the largest SPAC transactions in the quarter with $325 million, $275 million and $250 million, respectively.
BofA Merrill Lynch and Goldman Sachs ranked two and three for total volume, but the year is still young. We’re looking forward to seeing how the SPACs currently on file to IPO shake out. You can check the current IPO terms for Iron Horse Acquisition Corp., Terrapin 4 Acquisition Corporation, Pure Acquisition Corp. and Trident Acquisition Corp. by clicking on their names.
Click here for FY 2017 Underwriting League Table
Ranked by Volume
(All data is sort-able using the arrow keys located in the top row)
| Rank | Underwriter | Volume ($mm) | Deal Count | Avg. Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|
| 1 | Deutsche Bank | 850.0 | 3 | 283.3 | 22.0% |
| 2 | BofA Merrill Lynch | 625.0 | 2 | 312.5 | 16.2% |
| 3 | Goldman Sachs | 525.0 | 2 | 262.5 | 13.6% |
| 4 | Cantor | 380.5 | 2 | 190.3 | 9.9% |
| 5 | Credit Suisse | 300.0 | 1 | 300.0 | 7.8% |
| 6 | Chardan | 287.5 | 2 | 143.8 | 7.4% |
| 7 | Citigroup | 200.0 | 1 | 200.0 | 5.2% |
| 8 | EarlyBirdCapital, Inc. | 172.5 | 2 | 86.3 | 4.5% |
| 9 | Dowling & Partners Securities LLC | 172.5 | 1 | 172.5 | 4.5% |
| 10 | B. Riley FBR | 125.0 | 1 | 125.0 | 3.2% |
| 11 | Ladenburg Thalmann | 111.5 | 1 | 111.5 | 2.9% |
| 12 | CIM Securities | 111.5 | 1 | 111.5 | 2.9% |
Source: SPACInsider, Ranked by volume