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That's standard. I don't exactly know why except that it's a convenient price for retail investors and it lets them re-use their old contracts. The pool of money that they collect at IPO varies a lot, though.

Always $10, the share price is a complete fabrication so this just became a trend because it’s a nice number that’s easy to calculate %s from and the S-1 math was more standardized.

They will structure the deal such that the value of those shares is targeted to be about $10. Seems like they don't always achiever that. One of Chamath's DNA SPACs only started trading recently and is way down: https://www.google.com/search?q=NASDAQ%3A+AKLI

Before the merger goes through the stock price has a floor of $10. Typically the SPAC will IPO and start looking for a deal, this takes around 1-1.5 year. During that time the stock will be trading at around $10. When a deal is announced it typically takes 3-6 months for the merger to complete. The floor is still in place during that time. After the merger goes through the floor disappears and it starts trading like a normal stock.