⏱️ IPO-to-Merger Timeline
How long SPACs take at each stage of their lifecycle — and what the timing reveals
404 SPACs analyzed · 44 bankruptcies tracked
⏱️
24 months
Avg IPO→Merger
💀
27 months
Avg Time to Bankruptcy
📊
36 months
Median Lifespan
⚡
1 month
Fastest Failure
Wag! Group Co.
The typical de-SPAC company goes from merger to bankruptcy in about 26 months. The 2021 vintage — the peak of the SPAC bubble — produced the most bankruptcies of any cohort. Of 404 SPACs analyzed, 44 have already gone bankrupt, and the fastest collapse took just 1 month.
🔄 SPAC Lifecycle by Year Cohort
Average months at each stage — IPO to Merger, Merger to Peak, and Peak to Decline/Death
⏳ Time-to-Bankruptcy Distribution
How long after their SPAC merger did bankrupt companies survive?
📅 Average Lifespan by IPO Year
Which SPAC vintage is dying fastest?
| # | Company | Merger | Time to Bankruptcy |
|---|---|---|---|
| 1 | Wag! Group Co. | 2024 | 1 mo |
| 2 | American Virtual Cloud Technologies | 2022 | 3 mo |
| 3 | Enjoy TechnologyENJY | 2021 | 8 mo |
| 4 | Movella HoldingsMVLA | 2023 | 8 mo |
| 5 | Near IntelligenceNIR | 2023 | 9 mo |
| 6 | Fast RadiusFSRD | 2022 | 9 mo |
| 7 | Quanergy SystemsQNGY | 2022 | 10 mo |
| 8 | QualTek Services | 2022 | 10 mo |
| 9 | Embark TechnologyEMBK | 2021 | 12 mo |
| 10 | Electric Last Mile SolutionsELMS | 2021 | 12 mo |
| 11 | Alta Mesa Resources, Inc. | 2018 | 14 mo |
| 12 | EnovisENOV | 2021 | 15 mo |
| 13 | Virgin OrbitVORB | 2021 | 16 mo |
| 14 | GetaroundGETR | 2022 | 18 mo |
| 15 | VoltaVLTA | 2021 | 18 mo |