Special purpose acquisition company (SPAC) has become a popular path to go public in 2021, with increase in the number of SPAC deals as compared to 2020.
The blank-cheque company, led by billionaire Bill Ackman, has struck a complex deal to buy a 10% stake in the world’s largest music label. We explain everything you need to know as it tries to redefine the way SPACs work.
Mid-sized New York firm trumps Kirkland and Skadden in $77bn SPAC IPO bonanza
16 March 2021
Ellenoff Grossman & Schole advises on 71 IPOs amid surge in SPAC issuance in 2021
Rocket Lab s go public deal was completed earlier this month Rocket Lab New York firm Ellenoff Grossman & Schole (EGS) is cashing in on a record run of special purpose acquisition company (SPAC) IPOs this year, advising on more deals than its closest rivals, international giants Kirkland & Ellis and Skadden, according to data supplied by Refinitiv Deals Intelligence. EGS, which lays claim to have had the most active SPAC programme over the last decade, has advised on 71 IPOs valued at $17.6bn – either as legal adviser to the issuer or underwriter – in the period to 11 March this year. That is comparable to its entire 2020 tally.