TerraNova Structured Finance, the credit advisory and special purpose finance division of TerraNova Capital Equities, said their SPAC Backstop and deSPAC finance platform will help SPACs identify structured finance solutions in conjunction or in place of PIPE financing.
The news release comes at a time when SPAC shareholder redemptions are averaging more than 60% — and in some cases, crippling deals — while PIPE investors have shown some indication of cooling toward blank-check companies.
“As over 500 SPACs are seeking to complete target deSPAC’s and mergers, many are concerned about the ongoing constraint in the PIPE Market”, said Todd Coffin, who heads TerraNova Structured Finance.
TerraNova said it has sourced a variety of investors to provide both structured finance and equity solutions, allowing a SPAC to expedite closing. Read more.
