Posts
April 27 2021
Demand for D&O insurance explodes with SPAC-related activity and future litigation concerns
Demand for directors’ and officers’ (D&O) liability insurance has exploded along with the proliferation in SPAC-related activity in the United States, giving insurers more business but bringing with it some concerns of an elevated, unsized level of litigation risk down the road.
www.reuters.com
April 26 2021
The SPAC boom has ‘screeched to a halt.’ That may be good thing
One of the hottest corners of financial markets is getting slightly less manic. What’s happening: Billionaires, celebrities and athletes have raced to create special-purpose acquisition companies, or SPACs, over the past six months. These “blank check” firms, which raise money from investors and then go hunting for takeover targets, have been flagged as a sign of overexcitement on Wall Street.
www.cnn.com
April 26 2021
Company tied to football Hall of Fame embraced SPACs and NFT. A tale of two bubbles?
A company with ties to the Pro Football Hall of Fame in Canton, Ohio, benefited from not only one apparent investment bubble, but from two. Now the air is leaking fast.
www.cbsnews.com
April 25 2021
SPAC Insiders Can Make Millions Even When the Company They Take Public Struggles
Investors who bought into a special-purpose acquisition company that took a healthcare-services company public last year in an $11 billion deal have suffered steep losses. Promoters of the SPAC still stand to make millions.
www.wsj.com
April 19 2021
SEC Guidance a Serious Threat to SPACs, Law Firms Say
New guidance from the Securities and Exchange Commission on special purpose acquisition companies (SPACs) is already causing a huge slowdown in the market, according to several prominent law firms.
www.fool.com
April 19 2021
Dream Sports to list IPO in US, may raise $1.5 bn through SPAC
Another Indian tech firm is reportedly working on a US listing by early next year. According to news reports, the 13 year-old sport tech startup firm, Dream Sports may raise $1.5 billion through a special purpose acquisition company (SPAC) or blank cheque company.
www.freepressjournal.in.com
April 19 2021
Fifth Wall debuts third SPAC, hopes to raise $250M
Fifth Wall Ventures, an investment company that focuses on real estate technology, has launched a new special purpose acquisition company, which is a type of firm that is designed to merge with another corporation that wants to go public.
www.inman.com
April 14 2021
Grab is going public in $40 billion SPAC deal, the biggest on record
Southeast Asia’s ride-hailing giant Grab is setting the stage for an eye-popping Wall Street debut. The Singapore-based startup announced Tuesday that it would merge with a special-purpose acquisition company, or SPAC, backed by Altimeter Capital in a deal that would pave the way for a New York listing and value Grab at about $39.6 billion.
www.cnn.com