Special Purpose Acquisition Companies (SPACs)
Special Purpose Acquisition Companies (SPACs)
With their flexible structures, faster access to public markets and attractive pricing, Special Purpose Acquisition Companies (SPACs) play an increasingly important role in capital raising and in facilitating business transactions. But their unique features also can come with unique litigation risk and are attracting regulatory scrutiny. No firm is more experienced nationally in structuring and executing SPAC transactions and in meeting emerging SPAC-related litigation and regulatory challenges head on.
Client News
Hammerhead Resources to Combine With SPAC in $1 Billion Deal
Paul, Weiss is advising Hammerhead Resources Inc., a Calgary-based energy company, in its business combination with special purpose acquisition company (SPAC) Decarbonization Plus Acquisition Corporation IV.
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IG Acquisition Corp. to Combine With PlayUp Limited in Take-Public Deal
Paul, Weiss is advising IG Acquisition Corp., a publicly traded special purpose acquisition company (SPAC) led by Bradley Tusk, in its business combination with PlayUp Limited, an Australian global sports, entertainment and betting operator.
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SEC Enforcement: Year in Review
See Also
- Jessica S. Carey
- Andrew J. Ehrlich
- Roberto Finzi
- Harris Fischman
- Roberto J. Gonzalez
- Michele Hirshman
- Brad S. Karp
- Daniel J. Kramer
- Gregory F. Laufer
- Loretta E. Lynch
- Jane B. O'Brien
- Lorin L. Reisner
- Jeannie S. Rhee
- Audra J. Soloway
- Theodore V. Wells, Jr.
- Griffin Varner
- White Collar & Regulatory Defense
- Securities Litigation
- Litigation
- Financial Services Litigation & Investigations
In this year-end review, we highlight important takeaways for business leaders and in-house counsel from the Enforcement Division’s activities in 2021, and assess what the Division’s recent activities indicate about regulatory and enforcement priorities for the year ahead.
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Gregory Laufer Quoted in Reuters Article on SPAC Litigation
Litigation partner Gregory Laufer was quoted in a Reuters article, “SPACs Under the Microscope as Lawsuits Mount.”
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SEC Initiates First Enforcement Proceeding of the SPAC Boom Against SPAC, Sponsor, Merger Target and CEOs
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In the SEC’s first enforcement action against a SPAC since the “SPAC boom” took off late last year, the regulator recently announced charges against a SPAC, its sponsor, its proposed merger target and both the SPAC and the target’s CEOs.
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Getty Images Completes Business Combination With CC Neuberger Principal Holdings II SPAC
Paul, Weiss advised the Getty family in the business combination of Getty Images, a preeminent global visual content creator and marketplace, with special purpose acquisition company CC Neuberger Principal Holdings II.
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Algoma Steel Completes $1.7 Billion Business Combination with SPAC
Paul, Weiss advised Algoma Steel Group Inc., a leading Canadian producer of hot and cold rolled steel sheet and plate products based in Sault Ste. Marie, Ontario, in its $1.7 billion business combination transaction with Legato Merger Corp., a publicly traded special purpose acquisition company (SPAC).
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Geoffrey Chepiga to Participate in SPAC Litigation Roundtable
Litigation partner Geoffrey Chepiga will participate in a roundtable, “Strategies and Pitfalls in SPAC Litigation,” hosted by Expert Webcasts.
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Bowlero to Merge With Isos SPAC to Create Publicly Traded Company Valued at $2.6 Billion
Paul, Weiss is representing Bowlero Corp, the world’s largest owner and operator of bowling entertainment centers, in its business combination with Isos Acquisition Corporation.
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Algoma Steel to Combine With Legato SPAC to Create Publicly Traded Company
Paul, Weiss is advising Algoma Steel Inc., a leading independent steel producer with extensive steelmaking and finishing operations in Sault Ste. Marie, Ontario, Canada, in its combination with Legato Merger Corp., a special purpose acquisition company.
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Redbox to Go Public via Merger With SPAC Seaport Global
Paul, Weiss is advising Redbox, a leading multiplatform destination for new-release movies and entertainment, in its combination with Seaport Global Acquisition Corp., a special purpose acquisition company.
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Reservoir to Combine With Roth CH II SPAC to Create Publicly Traded Company
Paul, Weiss is advising Reservoir Holdings, Inc., a leading independent music company, in its combination with Roth CH Acquisition Co. II, a publicly traded special purpose acquisition company with $115 million in trust.
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SEC Staff Issues Additional Guidance for SPACs
The Staff of the SEC’s Division of Corporation Finance and the Acting Chief Accountant recently issued statements concerning certain key issues that SPACs and potential SPAC acquisition targets should take into account.
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What SPAC Sponsors, Directors and Officers Can Do to Mitigate Their Litigation Exposure
See Also
- Securities Litigation
- Financial Services Litigation & Investigations
- Litigation
- Mergers & Acquisitions Litigation
- White Collar & Regulatory Defense
- Mergers & Acquisitions
- Capital Markets
- Finance
- Susanna M. Buergel
- Jessica S. Carey
- Geoffrey R. Chepiga
- Lewis R. Clayton
- Andrew J. Ehrlich
- Brad S. Karp
- Daniel J. Kramer
- Gregory F. Laufer
- Raphael M. Russo
- Audra J. Soloway
- Robert J. O'Loughlin
- SPACs
The explosive growth in Special Purpose Acquisition Companies (SPACs) is starting to generate significant amounts of litigation. In this alert, we survey notable SPAC litigation trends and recommend what SPAC sponsors, directors and officers can do preemptively to minimize litigation exposure.
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Pine Technology Acquisition Corp. SPAC Closes $345 Million IPO
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Paul, Weiss represented Pine Technology Acquisition Corp. in its initial public offering of 34,500,000 units, priced at $10.00 per unit.
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