The Continuing Rise of The SPAC: Where Does It Go from Here?
Date Changed from November 11 to December 16
The interest in special purpose acquisition companies (SPACs), also known as blank check companies, skyrocketed in 2020 with 250+ SPAC filings. This year has already outpaced last year with 350+ SPAC filings and nearly 450 SPACs currently active.
The sheer number of active SPACs means that several hundred need to move swiftly toward signing merger agreements, given that they have a time limit of 18 to 24 months to acquire a target company. However, the market shows that the number of acquisitions (or de-SPAC transactions) has slowed in 2021, putting pressure on those still on the lookout for a target. Additionally, as the US market becomes more congested, some SPACs are looking internationally for transaction opportunities.
What does this mean for the SPAC craze in 2021 and beyond? Join us on November 11 for a discussion on these developments, where our panelists will talk about current issues, challenges and regulatory developments in the SPAC and de-SPAC market, including:
An overview of de-SPAC transactions, including current industry trends
The implications for de-SPAC deals and structures with so many active SPACs in the market
Cross-border de-SPACs are here—de-SPACs with non-US companies
Recent statements from the US Securities and Exchange Commission’s (SEC) Division of Enforcement, identifying SPACs as an emerging risk and emphasizing the importance of providing high-quality financial statements after de-SPAC transactions