Posts
September 23 2024
As a group, special purpose acquisition companies have crashed and burned spectacularly. Some 860 SPACs raised money from investors in the frenzied years 2020–2021, according to corporate advisor Kroll. Less than 100 survived.
www.gfmag.com
September 16 2024
Client Alert: Model Contract Provides Guidance for Compliance with City of Los Angeles’ Freelance Workers Protection Ordinance
The City of Los Angeles’ Freelance Workers Protection Ordinance (“FWPO”) Model Contract was recently issued. Use of the model contract is not required, but it serves as a useful helpful blueprint for those seeking to comply with their obligations under the FWPO.
Click here to read the alert.
September 11 2024
Client Alert: New Restrictions On Use of Background Checks for Employers in Los Angeles County
Los Angeles County’s Fair Chance Ordinance took effect on September 3, 2024, placing additional restrictions on the use of criminal background checks when hiring employees to work in unincorporated areas of Los Angeles County. As discussed in the alert below, the ordinance expands on the state-wide protections found in the Fair Chance Act, which took effect in 2018.
Click here to read the alert.
September 05 2024
Blackstone $16 bln AI deal borrows from SPAC boom
How does a buyer avoid paying a huge multiple for a fast-growing company in a hot sector? A group led by Blackstone (BX.N), appears to have managed to do so with its agreed A$24 billion, ($16.1 billion) offer on Wednesday to purchase Australia-based AirTrunk, which operates data centres for artificial intelligence developers like Microsoft (MSFT.O)
www.reuters.com
September 05 2024
Biotech Firm Medera Set to Go Public in $623M SPAC Deal
Medera Inc., a clinical-stage biopharmaceutical company developing treatments for cardiovascular diseases, has reached an agreement to go public on the Nasdaq through a merger with Keen Vision Acquisition Corp. (Nasdaq: KVAC).
www.themiddlemarket.com
September 03 2024
Semnur Pharmaceuticals, which is working on a non-opioid prospect for sciatica, has agreed to merge with special purpose acquisition company Denali Capital Acquisition Corp. in a deal worth $2.5 billion.
www.fiercepharma.com
September 03 2024
Lutnick Leads Sponsors Boosting SPACs to Biggest Month Since 2022
The blank-check market is heating up after the largest month for related initial public offerings since 2022, with a mix of new and experienced sponsors pricing new deals and a rush of additional debutants expected to come.
www.bloomberg.com
September 03 2024
Semnur Pharmaceuticals to go public via SPAC merger with Denali Capital in $2.5 bln deal
Semnur Pharmaceuticals, a wholly owned subsidiary of Scilex Holding Company (SCLX.O), will go public via a merger with special purpose acquisition company Denali Capital Acquisition Corp in a $2.5 billion deal, the companies said on Tuesday.
www.reuters.com