Delaware Courts Rejecting SPAC Defenses

Litigation involving SPACs continues to heat up in Delaware, The New York Law Journal reports. One year into this litigation boom, plaintiffs continue to sue SPAC management, founders, and sponsors for various alleged breaches of fiduciary duties. A recent decision—Delman v. GigAcquisitions3, 2023 WL 29325, (Del. Ch. Jan. 4, 2023)—could accelerate that trend and portend a narrowing of available defenses. Read more.

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A PIPE Dream

Last year saw a resurgence of PIPEs, which offer companies a way to raise a large amount of capital relatively quickly and easily, Financier Worldwide reports. Last year, 1,055 PIPE transactions were completed, raising over $53 billion – the largest total since 2008.