Foley partner Louis Lehot moderated a panel about the outlook for Special Purpose Acquisition Companies (SPACs) in 2022 and beyond at the California Lawyers Association 2022 Annual Meeting on Sept. 17.
The panelists — Kristin Snyder from Debevoise & Plimpton, Michelle Gasaway from Skadden, Selwyn Whitehead, and Alexander Lee from Cooley — discussed the origins, rationale and outlook for SPACs through the lens of the regulatory, corporate finance, tax and social impact perspective of each of the speakers.
The conversation covered how a SPAC is formed, initially structured, capitalized and financed, how a SPAC initially raises capital and obtains a public listing, the anatomy of a de-SPAC transaction, the PIPE market, the life of a post-de-SPAC public company, and regulatory initiatives.
The panelists drilled down deep into each of the factors that made SPACs a phenomenal success in 2020, and which inevitably led to the challenges facing SPACs in 2022.
Presentation materials can be found here.
A link to our e-book on SPACs can be found here.
You can learn more about CLA's annual meeting here.
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