The spectacle of the SPAC has preoccupied bankers on Wall Street over the past year, The Economist writes. This is in part because the vehicles are often touted by their backers as an alternative to an IPO. Big banks make meaty fees from their IPO businesses. For some, the fact that SPACs have muscled in is an unwelcome development. As voracious buyers of private firms, though, SPACs are attracting as much attention among the private-equity barons on New York’s Park Avenue as on Wall Street. Read more.
Related Posts
Goldman Sachs Aims to Create SPAC ‘Franchise’
Goldman is attempting to alter the struggling SPAC market by aligning investor interests with insiders.
Corvex Settles with SEC Over SPAC Activities
The regulator accused the activist hedge fund firm of failing to disclose conflicts of interest regarding its personnel's ownership of sponsors controlling SPACs into which Corvex advised its clients to invest.
Michael Stern to Launch $200M SPAC with Former Citadel Analysts: Report
Onyx Acquisition I plans to raise $200 million to target general industrial and construction-tech companies.
SPAC Warrants, Founders’ Shares, PIPEs: What Practitioners Should Know
In this note Financial Executives International addresses the technical accounting classification issue for SPAC warrants that has placed most SPAC filers into limbo and caused the IPO and merger market to seize.