SPACs are no longer raising record levels of new cash, but that’s OK with Joel Rubinstein. The White & Case partner is optimistic the summer vacations many capital markets lawyers missed out on a year ago might return this August, Bloomberg reports.
“The cadence has slowed in these transactions, which I think is healthy,” Rubinstein told Bloomberg Law. “The frenzy was really unsustainable.”
As SPACs’ popularity exploded last year, Big Law firms rushed into a market they’d historically avoided. But the number of new SPAC IPOs has slowed to a trickle in recent months, raising questions about whether these transactions will fuel revenue going forward or be remembered as a one-hit wonder. Read more.
