The $10 Cliff
Every SPAC starts at $10 per share. That's the deal. The question is: where do they end up? For these 59 companies, the answer is $0.
Bankrupt SPACs
59
Peak Value Destroyed
$170B
Avg Time to Bankruptcy
29 months
Fastest Collapse
-1mo
American Virtual Cloud Technologies
The Waterfall
Every bar shows peak market cap before the fall to $0. Taller = more value destroyed.
$10 IPO →
→ $0
← Largest peak market capSmallest →
$28B
Nikola
#1 most destroyed
$13B
Arrival SA
#2 most destroyed
$9B
WeWork
#3 most destroyed
$8B
Fisker
#4 most destroyed
$8B
Cazoo Group
#5 most destroyed