For 25 years, members of the Firm have participated in alternative means of going public.
Since 2008 the Firm has been one of the leading U.S. law firms involved in each of IPOs, SPACs, Registered Directs/PIPEs and Reverse Mergers. Over the course of the last decade, we have been the most active law firms in the SPAC program, Having worked on nearly 40% of the SPACs during that time period. We continue to be the market leader. Similarly, EGS is considered the leading firm in PIPEs and Registered Directs.
A SPAC is a newly formed corporation by prominent and qualified sponsor/management team for the purpose of raising capital in an IPO in anticipation of identifying and consummating a business combination. A SPAC seeks to leverage the strength and recognition of the management team within an industry or geographic location to secure proprietary deal flow and identify attractive acquisition candidates. It provides public company transparency to investors with full disclosure and voting rights with respect to approving the proposed business combination.
EGS led the SPAC IPO Legal League Tables for 2022 (click here to see the league table) and 2021 (click here to see the league table) ranking at #1 for number of deals completed. EGS worked on 148 SPACs in 2021 – more than double our deals completed in 2020.
SPACs and Alternative Public Offerings
In 2021, Ellenoff Grossman & Schole led all firms in SPAC IPO engagements, working on almost 150 deals that raised over $33bn. EGS has led all firms in engagements for five consecutive years.
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