Posts
March 07 2024
UK Blank-Check Company’s Cash Turns It From Buyer to Target
For tiny companies, raising money is so tough these days that they’ll try almost anything, even if it means turning the normal order of things upside down. Take Belluscura Plc, for example. The medical-device company, listed on the London Stock Exchange, issued roughly $7 million of stock to get its hands on about $6 million of cash, in an intriguing takeover where the target was a blank-check company.
www.bloomberg.com
March 04 2024
Client Alert: CDC Drops 5-Day COVID Isolation Guidelines
On March 1, 2024, the Centers for Disease Control (“CDC”) updated its guidelines for individuals infected with COVID-19, unifying its isolation recommendations for those with the flu, RSV and COVID-19, and recommending affected individuals isolate until (1) they have been fever-free for 24 hours without the assistance of medication and (2) their symptoms are improving.
Click here to read the alert.
February 24 2024
Online trading platform Webull is set to go public via a $7.3 billion SPAC deal
Webull is planning to go public through merging with a special purpose acquisition company in a deal that values the digital investing platform at $7.3 billion. The New York-based online brokerage will combine with SK Growth Opportunities Corporation in the second half of the year, pending regulatory and shareholder approvals. The combined company will be listed on Nasdaq as Webull under a new ticker.
www.cnbc.com
February 23 2024
EV maker Lotus Tech closes up modestly in Nasdaq debut after SPAC merger
Shares of Lotus Technology (LOT.O), closed up 2% in their Nasdaq debut on Friday, recouping earlier losses, after the luxury electric car maker completed its merger with a blank-check acquisition company backed by private equity firm L Catterton.
www.reuters.com
February 12 2024
Client Alert: New York Credit Card Surcharge Law Updated
On December 13, 2023, Governor Kathy Hochul signed a bill updating and clarifying New York’s credit card surcharge rules. This law is now in effect and businesses must comply with the updated credit card surcharge requirements.
Click here to read the alert.
February 05 2024
Client Alert – Call To Action: The Tip Credit Is On The Table
New York legislators are once again discussing eliminating the tip credit in the hospitality industry. Such legislation would deprive restaurateurs of the ability to offset tipped employee wages with the tips they receive from guests at a time when the industry is facing increased operating costs, increasing legal obligations, and unprecedented levels of unionization efforts.
Click here to read the alert.
January 29 2024
Leaner SPAC Market Expected In Wake Of Tougher SEC Rules
The U.S. Securities and Exchange Commission’s passage of tougher new rules governing special-purpose acquisition companies won’t kill this alternative funding vehicle, several attorneys said Wednesday, though stricter oversight will likely accelerate trends toward a leaner market dominated by larger players.
www.law360.com
January 29 2024
SPACs Will Survive New SEC Regs
But a change in the liability for disclosures and the requirements for financial projections will make early-stage companies think twice about going public via SPAC. The new rules for special-purpose acquisitions companies (SPACs) approved last week may further slow down the market for such vehicles and limit their use but SPACs will survive, said Timothy FitzSimons, a partner at King & Spalding.
www.cfo.com