In 2020, 219 SPACs raised $73 billion in proceeds, Business Insider reported. That’s a 462% year-over-year jump in proceeds raised using the process, outpacing traditional IPOs, which raised $67 billion year-to-date. Companies including Virgin Galactic, AppHarvest and DraftKings have chosen the SPAC approach.
Fervor Eases as Record SPAC Deal Gets Ho-Hum Response
Southeast Asia’s answer to Uber is set to nab the record for biggest deal in the SPAC world, yet traders are holding their applause.
SPAC deals attract younger, less-funded digital health startups
The prospect of companies hitting the public markets before they’re fully prepared creates the possibility for failure, according to Rock Health.
Ex-CEO of Gas Titan Targets SPAC Investments in Clean Energy
The former head of a major U.S. shale driller is eyeing more investments in the energy transition after his first blank-check company announced a deal to create a $1.15 billion renewable natural gas business.
Robbins Geller Rudman & Dowd LLP Launches SPAC Task Force
Robbins Geller has formed a dedicated SPAC Task Force comprised of experienced securities and M&A lawyers.
Grab and Altimeter Growth Corp. Investor Presentation
The Investor Presentation for the Grab and Altimeter Growth Corp. merger is available.
Grab, the Leading Superapp for Deliveries, Mobility and Financial Services in Southeast Asia, Plans to Go Public in Partnership with Altimeter
Grab Holdings Inc. (“Grab”), Southeast Asia’s leading superapp, today announced it intends to go public in the U.S. in partnership with Altimeter Growth Corp. (Nasdaq: “AGC”) in what is expected to be the largest-ever U.S. equity offering by a Southeast Asian company.
‘Frustrated’ Limited Partners Are Questioning PE-Sponsored SPACs
Private equity firms that sponsor blank-check companies raise the potential for conflicts of interest with their own funds, according to PitchBook.
Investors are flocking to video gaming, but be wary of esports, SPACs, advisors say
Investors are flooding the video game market with money at a record rate during a pandemic-inspired boom. Some, unfamiliar with the gaming world and eager to follow suit, may be tempted by impressive numbers and projected growth, rather than the core product in which they’re investing.
Regulators Step Up Scrutiny of SPACs With New View on Warrants
Some special-purpose acquisition companies have improperly accounted for warrants sold or given to investors, securities regulators said Monday, stepping up scrutiny of the popular vehicles.
Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (“SPACs”)
In a recent statement, Acting Chief Accountant Paul Munter highlighted a number of important financial reporting considerations for SPACs.
What’s behind Grab’s reported SPAC listing
Grab’s decision to opt for an SPAC listing rather than an IPO may seem strange to some, but it is a timely and strategic move, says Li Jianggan.
SEC to Wall Street: SPACs Aren’t a Way Around Securities Laws
The U.S. Securities and Exchange Commission has a fresh warning for the booming SPAC market: Blank-check companies aren’t an end-around to avoid disclosing key information to investors.
Exclusive: Impossible Foods in talks to list on the stock market – sources
Impossible Foods Inc is preparing for a public listing which could value the U.S. plant-based burger maker at around $10 billion or more, according to people familiar with the matter.
SPAC Deal Aims to Create the Largest Pot Company in California
Dealmaking in the frenzied cannabis market continues to flourish with the latest megadeal announced Thursday. Investors aim to build a Coca-Cola or Hershey of marijuana, launching the first national pot brand in the United States.
Sonder considers going public via SPAC
The San Francisco-based firm, which leases apartments and turns them into furnished, short-term rentals, is in talks to go public by merging with one of Alec Gore and Dean Metropoulos’ blank-check firms.
New Tokyo Stock Exchange chief all in for ESG but wary of SPAC boom
The Tokyo Stock Exchange will push Japanese companies to adopt more robust governance rules through an ambitious reorganization in a “big step toward becoming the bourse of choice for global investors,” the new TSE chief told Nikkei in an interview.
75% of SPAC Sponsors Not High Quality: Deutsche Bank Exec.
Ajay Shah, head of technology investment banking at Deutsche Bank AG, discusses the booming popularity of special purpose acquisition companies (SPACs).
Webinar: Akerman Hosts Webinar on SPACs 101– The Nuts and Bolts of Special Purpose Acquisition Companies
The insightful discussion featuring Akerman Corporate Partner Mark Liu, together with industry leaders David Hill (RSM US LLP) and James Keckler (DA Davidson & Co.), will explore the dynamics of SPACs and their influence on the markets.
Airport Concession Operator OTG Said Exploring Sale, SPAC Deal
OTG, an operator of restaurants and concessions at U.S. airports, is exploring options including a sale or going public through a special purpose acquisition company, according to people with knowledge of the matter.