The rise of blank-check companies such as SK Growth Opportunities peaked in 2021, with 613 IPOs completed, according to SPAC Insider. The market fell apart the following year as soaring inflation and rising interest rates pushed investors out of risky assets. So far this year there have been 23 SPAC IPOs.
Webull said last year that it was planning for its market debut to take place in the second half of 2024.