At the SPAC conference in June, much conversation centered on new SPAC teams moving away from Delaware to incorporate in the Cayman Islands. As my readers and listeners know, this strategy shift is not surprising. Factors pushing new SPAC teams in that direction are the 1% excise tax being levied on SPAC redemptions and the negative SPAC environment the Delaware courts have created with their recent decisions.
Source: Incorporating in Cayman