Posts
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
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
January 25 2024
SPAC Risk Update with Doug Ellenoff: What to Expect in 2024
For the first SPAC Notebook of 2024, I was pleased to speak once again with Doug Ellenoff, the founder of Ellenoff Grossman & Schole and someone who has been at the forefront of the SPAC market since its inception. In addition to evaluating SPAC activity in 2023, we looked at what to expect for this year.
www.jdsupra.com
January 24 2024
SEC Adopts Rules to Enhance Investor Protections Relating to SPACs, Shell Companies, and Projections
The Securities and Exchange Commission today adopted new rules and amendments to enhance disclosures and provide additional investor protection in initial public offerings (IPOs) by special purpose acquisition companies (SPACs) and in subsequent business combination transactions between SPACs and target companies (de-SPAC transactions).
www.sec.gov
June 26 2023
Restaurant chain Pinstripes to go public via $520 million SPAC deal
Restaurant chain Pinstripes, which offers Italian food along with bowling and bocce, said on Friday it will go public through a merger with a blank-check firm in a deal valued at about $520 million and plans to list on the New York Stock Exchange around the end of the fourth quarter.
www.reuters.com
June 22 2023
Adam Dooley’s SPAC to Merge With Debt Servicer Unifund
Dooley launched the SPAC in 2021, with the goal of acquiring wealth management firms. It now plans to take Unifund, a consumer debt servicer, public in a $238 million deal.
www.wealthmanagement.com
June 21 2023
U.S. securities regulator hits top SPAC auditor with $10 million fine
The U.S. Securities and Exchange Commission (SEC) on Wednesday slapped Marcum LLP with a $10 million penalty for standards violations and systemic quality control failures in its audit work for hundreds of special purpose acquisition companies, or SPACs.
www.reuters.com