A special purpose acquisition company (SPAC) is a “blank check” shell formed to take companies public by skipping the traditional initial public offering (IPO) process. Though SPACs have been around for decades, the financial maneuver has gained traction in 2020 as the COVID-19 pandemic created uncertainty in the capital markets. Incredibly, on the 494 companies that went public during that year, SPAC transactions accounted for around half. As of March 2021, SPACs gross issuance proceeds in the US had already exceeded their total of 2020 and over the year, multiple high-profile private companies such as Buzzfeed, 23andme, and Trump Media & Technology Group have chosen this format to go public. What are the drivers behind the increased usage of SPACs and will this trend be sustained in a post-pandemic world?