SPAC growth has been phenomenal — 59 SPAC IPOs raised $13.9 billion in 2019, and the value of SPAC investments rose to $83.3 billion in 2020. While data for 2021 is still being collected, SPAC IPOs are estimated to have raised $100 billion by the end of May. (Credit: Rawpixel.com/Shutterstock) SPAC growth has been phenomenal — 59 SPAC IPOs raised $13.9 billion in 2019, and the value of SPAC investments rose to $83.3 billion in 2020. While data for 2021 is still being collected, SPAC IPOs are estimated to have raised $100 billion by the end of May. (Credit: Rawpixel.com/Shutterstock)

As the number of special purpose acquisition companies (SPACs) has rapidly grown, so have SPAC-related litigation and investigations. On top of this, executives in this space face challenges finding sufficient coverage for the financial risks they face due to narrower coverages for SPACs than what is typically seen in director & officers (D&O) liability policies.

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