The Micro-Cap SPAC IPO marketplace remained active in the first quarter of 2023, with issuers raising approximately $797 million, in offerings ranging from $50,000,000 to $125,000,000.

A total of 11 issuers completed their micro-cap SPAC IPOs (SPAC IPOs raising up to $250 million) in the 1st Quarter. Six foreign private issuers (FPIs) from the Cayman Islands completed their Micro-SPAC IPOs in the U.S. during the 1st Quarter.

Placing a particular emphasis on issuers operating in the micro-to-small cap spaces, our 2023 1st Quarter Micro-Cap SPAC IPO summary explores all the data and trends behind these numbers, while providing an in-depth look into the various elements of the SPAC IPO process.