Billionaire SPAC Kings Dragged to Court After Boom Goes Bust June 2, 2023 By Bailey Lipschultz The unwinding of the blank-check stock frenzy, one of the hottest pandemic-era trends on Wall Street, is playing out its...
Great SPAC Crash of 2022 Deepens as Investors Cash Out in Droves December 15, 2022 By Bailey Lipschultz The great SPAC crash is closing out the year in dramatic fashion as more shareholders prepare to cash out of...
Global Banks Flee the Monster SPAC Market They Helped Create May 10, 2022 By Katherine Doherty Just a few years after banks helped create a gargantuan market for blank-check companies, they’re pulling away from the deals,...
U.S. SEC Proposes Boosting Blank-Check Company Disclosures, Liability March 30, 2022 By Katanga Johnson and Chris Prentice Proposal requires SPACs disclose conflicts during, after listing Disclosures must be issued at least 20 days before deal vote Rule...
Italian SPAC Aims to Target Deals in Insurance Sector May 10, 2021 MILAN – Two known Italian business executives said on Monday they would list a 200 million euro ($243 million) special...
Ex-Credit Suisse CEO Raises $300M for Financial Services-Focused SPAC March 1, 2021 By Jan-Henrik Förster Former Credit Suisse Group AG Chief Executive Officer Tidjane Thiam raised $300 million for his blank-check company after boosting the...
Ex-UniCredit CEO Teams Up with France’s Richest Man to Form SPAC for Financial Deals February 17, 2021 By Sudip Kar-Gupta and Abhinav Ramnarayan PARIS – Former UniCredit boss Jean-Pierre Mustier is teaming up with France’s richest man Bernard Arnault to launch a special...
Liability for SPAC Flops: Waitr Could Be Test Case for Disgruntled Investor Lawsuits February 16, 2021 By Edvard Pettersson and Crystal Tse Waitr Inc. never had the resources of rivals Grubhub Inc. and UberEats. Yet in November 2018 the online food ordering...
Insurers Overwhelmed by Demand for D&O Coverage for Blank Check Companies February 10, 2021 By Katherine Chiglinsky and Jenny Surane The SPAC boom is overwhelming a key player in the creation of a blank-check companies: insurers. Firms selling directors-and-officers liability...
Metromile to Begin New Life as Public Company as Reverse Merger Closes February 9, 2021 By Andrew G. Simpson Digital pay-per-mile auto insurer Metromile will officially become a public company tomorrow as the deal to be merged with a...