A SPAC is a newly formed corporation by a prominent and qualified sponsor/management team for the purpose of raising capital in an IPO in anticipation of identifying and consummating a business combination.
EG&S was ranked #1 for our SPAC Practice (offerings and business combinations) for 2011 among all U.S. law firms. (source: IPO Vital Signs )
In 2010, EG&S innovated a new SPAC structure for 57th Street General Acquisition Corp. that is now the accepted convention. In 2010 and 2009, EG&S worked on the only SPAC IPOs to be consummated. In 2008, EG&S ranked #1 among all U.S. Law Firms for both issuer and underwriter SPAC financings. During the last 48 months, members of the Firm have been involved with over 50 blind pool/SPACs (17 of which have closed - raising in excess of $1.5 billion).
Read our power point presentation on Blind Pools and SPACs
Listen to an introduction by Douglas S. Ellenoff: