The Oxford Handbook of IPOs notes

Special-purpose AcqThe success of SPACs illustrates the wave of reform since these companies were synonymous with penny stock frauds and with dismal returns in the past. Their share of capital collected by all IPOs rose by over 50% last year. There is a rising appreciation of this method of going public. A variety of companies who might not touch the commodity a couple of years earlier are now part of the gameuisition Companies

Special-purpose AcqThe success of SPACs illustrates the wave of reform since these companies were synonymous with penny stock frauds and with dismal returns in the past. Their share of capital collected by all IPOs rose by over 50% last year. There is a rising appreciation of this method of going public. A variety of companies who might not touch the commodity a couple of years earlier are now part of the gameuisition Companies