SPACs: A Market Update and Securities and Regulatory Overview

Special purpose acquisition companies (SPACs) continue to grow in popularity and in significance in the United States.  Between January 1, 2020 and the end of the first quarter of 2021, there were 88 SPAC mergers completed.  There are currently over 435 SPACs searching for targets and 123 “live” SPAC mergers or initial business combinations.  During this session with the Association of Corporate Council (ACC), panelists will cover the basics of a SPAC, the SPAC initial business combination process, or de-SPACing, and securities law considerations.

• What is a SPAC?
• The SPAC market in the United States
• How does going public via a SPAC work?
• Advantages and disadvantages to merging into a SPAC
• Securities law considerations applicable to SPACs
• An overview of the de-SPACing process
• Securities exchange considerations
• Role of the financial intermediary in the process
• Recent SEC Staff statements relating to SPACs

Guest Speaker: 
Candace Jackson (Aerion Supersonic)