Posts
August 23 2024
Kenya Pensions Industry Plans SPAC to Tackle State Pending Bills
Kenyan pension funds are in talks to acquire a portion of the government’s overdue payments to some contractors and service providers, aiming to undo a decades-old logjam that has weighed on businesses and banks.
www.bloomberg.com
August 23 2024
Tactical Resources Plans Nasdaq Listing Via Plum SPAC Deal
Tactical Resources Corp., a mining company focused on rare earth elements, has agreed to go public on the Nasdaq stock market through a merger with a blank-check firm.
www.bloomberg.com
August 23 2024
Hong Kong eases listing thresholds for tech firms, SPAC deals in fresh tonic for IPO market
Hong Kong’s stock exchange operator is modifying its listing rules to make it easier for specialist technology companies and special-purpose acquisition companies (SPACs) to raise funds from investors, after a rebound in capital-market activities led to record earnings.
www.scmp.com
August 22 2024
Client Alert: California Reforms the Private Attorney General Act
California recently enacted legislation significantly reforming the state’s Private Attorney General Act (“PAGA”), which permits individuals to pursue penalties for employer violations of the California Labor Code provisions on their own behalf and on behalf of other “aggrieved employees.”
Click here to read the alert.
August 21 2024
Client Alert: Texas Court Permanently Blocks FTC Noncompete Rule
As expected, on August 20, 2024, a federal judge in Texas permanently blocked the Federal Trade Commission (“FTC”) rule banning most employee noncompetition agreements (the “Noncompete Rule”). The judge held that “the FTC lacks statutory authority to promulgate the Noncompete Rule, and that the Rule is arbitrary and capricious.”
Click here to read the alert.
August 19 2024
SPAC Veteran Klein to Shutter Another Blank Check Firm After Deal Break
Wall Street maven Michael Klein’s SPAC empire was dealt another blow when a deal to take CorpAcq Holdings Ltd. public was called off. The banker’s Churchill Capital Corp. VII on Sunday said it will shut down after the deal was terminated, citing conditions about the market for initial public offerings. The liquidation will mark the third special-purpose acquisition company backed by Klein to throw in the towel.
www.bloomberg.com
August 12 2024
Asian Streaming Platform Plans US Listing Via SPAC Merger
Asia-focused animation and streaming platform Global IBO Group Ltd. plans to go public in the U.S. at an estimated $8.3 billion valuation by merging with special purpose acquisition company Bukit Jalil Global Acquisition 1 Ltd., under guidance from two law firms.
www.law360.com
August 10 2024
Investors should beware a revival of Spacs
Sometimes I wonder if investors ever learn from their foolish choices. Take, for instance, the denouement of the latest version of the craze for special purpose acquisition corporations, or Spacs.
www.ft.com