NEW YORK--(BUSINESS WIRE)--According to SPAC Research, a trusted third-party resource for information on US-listed SPACs, ICR was ranked the #1 advisor based on number of deals, total deal volume, and stock price performance among firms with four or more deals.
SPAC Research noted that “first-time sponsors frequently underestimate the challenge of the de-SPAC process, especially in moving shares from SPAC arbs into the hands of would-be fundamental holders in the target company. Many SPACs underperform at basic IR functions such as ensuring sell-side coverage, hosting an analyst day, and developing a modern website. So why aren't all SPACs using IR firms?”
SPAC Research analyzed all SPACs to IPO since 2015, finding that 69 have closed deals. Of those 69…
- ICR ranked #1 based on total trust accounts of SPACs represented ($3.3 billion)
- ICR ranked #1 based on total equity raised at deal closing ($4.3 billion)
- ICR ranked #1 based on deal closings (12)
- ICR ranked #1 in stock price performance among firms with 4 or more deals (average price of $10.62)
“As with many financing trends, ICR is at the forefront and we are pleased that we have been able to help management teams create and sustain significant equity value,” said Don Duffy, President of ICR. “We credit our ability to assemble teams that are well versed in the capital markets, truly understand the specific industry in question, and have vast experience helping companies maximize value through sophisticated investor relations and media relations programs.”
ICR is the largest advisor and communications consultant to SPACs, having completed dozens of transactions over the past decade. To obtain a copy of ICR’s 2019 Year of SPACs report please click here.
Established in 1998, ICR partners with its clients to execute strategic communications and advisory programs that achieve business goals, build awareness and credibility, and enhance long-term enterprise value. The firm’s highly-differentiated service model, which pairs capital markets veterans with senior communications professionals, brings deep sector knowledge and relationships to more than 750 clients in approximately 20 industries. ICR’s healthcare practice operates under the Westwicke brand (www.westwicke.com). Today, ICR is one of the largest and most experienced independent communications and advisory firms in North America, maintaining offices in New York, Norwalk, Boston, Baltimore, San Francisco, San Diego and Beijing. Learn more at www.icrinc.com. Follow us on Twitter at @ICRPR.