SPACs: Special Purpose Acquisition Corporations
A SPAC is a newly formed corporation by a prominent and qualified sponsor/management team for the purpose of raising capital in an IPO in anticipation of identifying and consummating a business combination.
For the last five years, EG&S’s SPAC Practice Group which includes both our Capital Markets and M&A lawyers has been the most active Firm in the U.S. Over the course of the last couple of years, EG&S has been involved in nearly 40% of all SPAC IPOs, either as issuer’s or underwriter’s counsel. During the last 15 years, members of the Firm have been involved with over 260 blind pool/SPACs and 53 SPAC Acquisitions with collective enterprise values in the billions of dollars.
EGS led the SPAC IPO Legal League Tables for 2020 (click HERE to see the league table) ranking at #1 for number of deals completed. EGS worked on 70 SPACs in 2020 – more than double our deals completed in 2019.