Digital assets and special purpose acquisition companies (“SPACs”) have been two of the hottest topics in the financial world over the past few years, and, unsurprisingly, the topics overlap with increasing frequency.
Established companies can decrease the risk, cost, and amount of time required to go public by merging with a SPAC. Webinar discussing SPACs.
On March 30, 2022, the U.S. Securities and Exchange Commission (SEC) approved, by a 3-to-1 vote, a 372-page proposal of numerous rules regarding disclosures and procedural requirements for special purpose acquisition companies (SPACs).
SoundHound AI, Inc. (“SoundHound”), a global leader in voice artificial intelligence (“voice AI”) today announced the completion of the previously announced business combination (the “Business Combination”) between SoundHound Inc. and Archimedes Tech SPAC Partners Co. (“Archimedes”), a special purpose acquisition company.
In the last year, there has been an unprecedented surge of special purpose acquisition company (SPAC) formations. This has attracted a lot of attention to the SPAC space, from the sponsor side (traditional private equity firms, athletes, and celebrities) to the investor side (hedge funds and retail traders).
As with most financial market crazes, the fear of missing out motivates buying and selling en masse. The market’s current fantasy with special-purpose acquisition companies (SPACs), a financial instrument mired in a suspicious past, may just be another instance of this phenomenon.
The prospect of companies hitting the public markets before they’re fully prepared creates the possibility for failure, according to Rock Health.
Following these ten steps will prepare SPAC boards, sponsors, and advisors for the likely shareholder suits and potential regulatory investigations that are increasingly becoming part of the SPAC landscape.
Deals worth $1.3tn were struck in the first quarter of 2021 in a year-to-date record driven by a number of mega deals and the surge in SPACs.
In recent years, we have seen significant market developments and innovation in our capital markets, with a variety of structures being utilized to raise capital and facilitate taking private companies public.
Global mergers and acquisitions (M&A) have seen their strongest developments in four decades in the first quarter of this year as special purpose acquisition companies (SPACs) keep doing well, the Financial Times (FT) reported.
The shell companies that many private firms use to go public on the country’s stock exchanges have been all the rage on Wall Street for more than a year.
Now, you may have never heard of this type of investment vehicle, but they are making an impact on the finance sector of the cannabis industry.
Over 35% of pre-deal SPAC units closed under $10 and just over 50% of pre-deal SPAC common did the same.
SPAC transactions are on a meteoric rise. In 2020, there were approximately 250 SPACs that, combined, raised $76 billion and made up almost half of all Initial Public Offerings (IPOs) for the year.
The use of special purpose acquisition companies to take startups public has hit astronomical levels. Of the 302 IPOs so far this year, 80% are SPACs.
Hong Kong is exploring whether to allow Special Purpose Acquisition Companies (SPAC) to list in the Asian financial hub, according to a government statement, indicating that a largely U.S. phenomenon could be going global.
SPACs were one of the big financial stories of 2020, given that they raised billions of dollars in the second half of the year. Given the amount of money flowing into SPACs, it’s not surprising that the cannabis industry turned to this new trend for financing.
Raising special purpose acquisition companies is en vogue in the COVID-19 economy. From venture capitalist Chamath Palihapitiya to footballer-turned-activist Colin Kaepernick to former House Speaker Paul Ryan, it seems like everyone is taking part in this new variant of initial public offerings.
Among other things, 2020 will be remembered as a year that saw a boom in the use of Special Purpose Acquisition Companies (SPACs) as a robust alternative to an initial public offering (IPO).