Posts
November 01 2021
Once Taboo, SPACs Are Now the Main Driver of Fundraising and New Growth in Cannabis
For U.S. cannabis companies looking to raise capital for operations that deal in a federally illegal substance, IPOs on American markets aren’t a viable option. Other traditional capital sources—banks, for example—are equally off limits. The constraints set up a perfect environment for special purpose acquisition companies (SPACs) to thrive—and thriving they are.
www.prnewswire.com
October 27 2021
RTP Global’s Gareth Jefferies Expects More SPACs in U.K. in Wake of Eased Regulations
In August, the U.K. Financial Conduct Authority eased rules governing public listings on the London Stock Exchange via special-purpose acquisition companies—as long as they build in some protections for investors.
www.wsj.com
October 27 2021
Ex-Barclays Banker Azar Sees More SPAC Scrutiny After Crackdown
Former Barclays Plc banker Makram Azar, who listed his special-purpose acquisition company last year to scout for European tech unicorns, warned SPACs could come under yet more scrutiny by U.S. regulators after a crackdown earlier this year cooled off the market.
www.bloomberg.com
October 25 2021
Trump SPAC Digital World Acquisition drops 11% after huge gains on social media merger news
The SPAC stock linked to Donald Trump’s planned social media platform sharply dropped in price Monday after booking huge gains last week following news that it would merge with the ex-president’s planned social media company.
www.cnbc.com
October 25 2021
Esports Company FaZe Clan Valued at $1 Billion After Deal to Go Public in SPAC Merger
FaZe Clan says it’s about to become a unicorn. The esports and gaming media company announced plans Monday to combine with a special purpose acquisition company (SPAC) in a deal to become a publicly traded entity — giving it an implied value of $1 billion.
www.variety.com
October 25 2021
Client Alert: Election Day Reminder: New York’s Voting Leave Requirements
With early voting already underway and Election Day right around the corner on November 2, 2021, we take this opportunity to remind employers of their obligations with respect to employees who may need time off from work to vote.
Click here to read the alert.
October 21 2021
Blank-check boom: D&O insurance strategies for SPAC management
Hindsight is 20/20, and directors and officers of publicly traded companies are beginning to reflect as end-of-year reports near. The craze surrounding special purpose acquisition companies, or SPACs, crested over the past year, but with such popularity has come increased regulatory focus and greater considerations for director and officer (D&O) insurance coverage.
www.reuters.com
October 21 2021
Goldman Sachs wants to build an investor-friendly SPAC business following market bust
Goldman Sachs just closed its second billion-dollar blank-check deal ever as the Wall Street firm seeks to change the struggling SPAC market by building a sustainable franchise that aligns investor interests with insiders.
www.cnbc.com