Un-Packing SPACs: Risks, Rewards and Everything in Between
Special purpose acquisition companies (SPACS) have exploded as an increasingly popular way for private companies to go public. There were more SPAC IPOs in 2020 than traditional IPOs. The market for SPAC IPOs and so-called “de-SPAC” transactions, by which private companies become public companies by combining with a SPAC, is […]
SPAC Trend Gives Rise to Securities Enforcement and Litigation Risks
What is a SPAC Special purpose acquisition companies (SPACs) are on the rise. A SPAC is a publicly traded shell company with no underlying operating business that seeks to merge with a target operating company. According to Nasdaq, in 2015, SPACs made up approximately 12% of the IPO market, but by […]
Past Event: 2020 TechGC SPAC Forum
SPACs and Direct Listings have emerged as a significant new liquidity path for high growth tech companies over the last several months. In this three-day virtual forum, we’ll discuss how to approach these liquidity events strategically including evaluating which structure to use, understanding economics / dilution, and how to execute […]
Past Event: SPACs – The Next Generation of IPOs or Just a Fad?
Driven by ongoing market pressures brought on by the COVID-19 pandemic, we have seen a surge of interest in special purpose acquisition (SPAC) transactions from companies across sectors. During this session, we heard from industry lawyers, exchange executives, and investment bankers on key considerations for navigating a SPAC merger, as […]
Past Event: Pacific Southwest Region SPAC / IPO Roundtable
Cooley partners Dave Peinsipp and Sean Clayton, Deloitte, Nasdaq and an investment banker well-versed in the IPO and SPAC processes to share insights on the next normal.
SPAC Transactions – Considerations for Target-Company CFOs
Although special-purpose acquisition companies (SPACs) have been used for decades as alternative investment vehicles, they have recently come into vogue as seasoned investors and management teams have turned to SPACs to mitigate the increased market volatility risk of traditional initial public offerings (IPOs). In fact, 2020 has been a record-breaking […]
A Couple of Quick Items Regarding IPO Alternatives
Here are two quick items regarding popular IPO alternatives, SPACs (special purpose acquisition corporations) and primary direct listings: SPACs. In an interview on CNBC with Andrew Ross Sorkin on Thursday, SEC Chair Jay Clayton addressed the recent SPAC frenzy. (Very loosely, SPACs are companies with no real operations formed to […]
Past Event: Dealmakers Roundtable: SPACs!
On September 24th, 2020, Cooley partners Garth Osterman, Rama Padmanabhan, and Dave Peinsipp led a panel discussing the topics listed below. Topics include The recent acceleration of SPAC M&A activity Key timing considerations for a SPAC business combination The ways in which PIPEs and debt securities come into play Changing […]
Past Event: Cell & Gene Meeting on The Mesa
The Cell & Gene Meeting on the Mesa is the sector’s foremost annual conference bringing together senior executives and top decision-makers in the industry to advance cutting-edge research into cures. This conference covers commercialization hurdles facing the cell and gene therapy sector as well as a wide range of topics […]
Past Event: Bay Area IPO Readiness Workshop
Cooley partner Dave Peinsipp, Deloitte and leaders from other organizations well-versed in the IPO, direct listing and SPAC processes shared their insights on the next normal. Topics include Current market conditions Regulatory considerations How to prepare for the IPO process Life as a public company Actionable insights from a CFO/controller […]