Bloomberg: How SPAC Exuberance Led to Perfect Storm in D&O Insurance

Univesrsity of Michigan researchers found that compared to companies that completed a traditional IPO, the SPAC revenue projections are about three times larger on average.

Many SPACs, in connection with a de-SPAC merger, have approved charter amendments authorizing an increase in the number of their authorized shares of Class A Common Stock to facilitate the issuance of shares required for the merger. Class A and B stock typically voting together. The chancery court has ruled that such amendments require an additional, separate vote of Class A shares.

The investors who sued the bioplastics company in 2021 were able to show that Danimer and its executives made misleading statements, but failed to adequately allege that they did so with any fraudulent motive or intent, a judge ruled.

A handful of high-profile names dominate the rankings of blank-check company dealmakers, as investors and potential targets have become more selective about the wave of special purpose acquisition companies, Financial News reports.