SPAC (Special Purpose Acquisition Company) Transactions
SPAC INITIAL PUBLIC OFFERINGS
- Representing a healthcare-focused SPAC in its pending $300 million SPAC IPO.
- Representing the underwriters in the pending $200 million SPAC IPO of Crescera Capital.
- Currently representing other SPAC sponsors and underwriters in IPOs not yet publicly disclosed in the healthcare, life sciences and technology sectors; and advising companies and investment funds on going public strategies involving SPAC and dual and triple track processes (IPO/SPAC, and IPO/SPAC/traditional M&A).
SPAC BUSINESS COMBINATIONS AND PIPES
- Represented Altimeter Capital Management in Grab Holdings Inc.’s business combination with Altimeter Growth Corp., a SPAC, in a transaction valued at approximately $40 billion, the largest SPAC deal to date.
- Represented Amplitude Healthcare Acquisition Corporation, a SPAC sponsored by affiliates of Avego Management, LLC and Metalmark Capital, in its business combination with Jasper Therapeutics.
- Represented the private placement agents in a $60 million PIPE financing in connection with the business combination of eFFECTOR Therapeutics, Inc., a biopharmaceutical company focused on pioneering the development of selective translation regulation inhibitors (STRIS) for the treatment of cancer, with Locust Walk Acquisition Corp., a SPAC.
- Currently advising on other SPAC business combinations and the related financing arrangements such as PIPEs; representing investment fund and other clients in connection with investments in companies undertaking SPAC business combinations and in connection with continuing investments in de-SPAC’ed companies; advising de-SPAC’ed companies on securities law and disclosure matters; and representing management teams and minority stockholders in private equity controlled companies engaged in SPAC business combinations.
- Other SPAC transactions in which we have been involved on behalf of our clients have included, among others, Thoma Bravo Advantage/ironSource, Longview Acquisition/Butterfly Network, Vesper Acquisition/Hydrafacial, Falcon Capital/Sharecare and HighCape/Quantum SI.
SPAC COUNSELING AND REGULATORY GUIDANCE
- Advising SPAC participants on director responsibilities and other legal and liability considerations including enforcement risks; investment banks and other financial institutions on SPAC-related policies, including research analyst-related policies and derivatives-related policies; and monitoring regulatory, litigation and other developments relating to SPACs.