The “SPAC”-ulation is over!
On September 17, 2021, the Stock Exchange of Hong Kong Limited (the Stock Exchange) issued a much anticipated consultation paper on Special Purpose Acquisition Companies (SPACs). It is...more
Special Purpose Acquisition Companies (“SPACs”) played a critical role in U.S. capital market growth in 2020. There were 248 SPACs launched, raising an aggregate of $83 billion in proceeds. The beginning of 2021 witnessed an...more
3/4/2021
/ Acquisitions ,
Asia ,
Capital Markets ,
Coronavirus/COVID-19 ,
D&O Insurance ,
Initial Public Offering (IPO) ,
Investors ,
Mergers ,
Nasdaq ,
NYSE ,
PIPEs ,
Purchase Agreement ,
Right of Redemption ,
Securities and Exchange Commission (SEC) ,
Shareholders ,
Shell Corporations ,
Special Purpose Acquisition Companies (SPACs) ,
Trust Accounting
On January 27 and 28, 2021, over 300 participants joined Morrison & Foerster’s webinars on “SPAC 101- Is 2021 the Year of SPACs in Asia?” where Partners Mitchell S. Presser, Justin R. Salon, and Ruomu Li led an in-depth...more
2020 is drawing to a close, but the heat of the SPAC, which will be hot starting in 2019, has not diminished at all. More and more private equity funds, financial institutions and other investors are setting up SPAC. The...more
A previous article by our firm has sorted out and summarized privatization transactions. As a companion article, this article will discuss a very important but easily overlooked issue in privatization transactions. The...more
In this article, we follow up on our overview of going private transactions (available here) by focusing on an important but often overlooked workstream in these deals. Companies are frequently privatized by a group of...more
Since the early 1990s, a large number of well-known Chinese companies have been listed in the United States to enhance their global image, and the US stock market has become a haven for many Chinese stocks. However, China...more
Since the early 1990s, the U.S. stock exchanges have long been home to many prominent Chinese companies as they tried to attract a wide spectrum of investors and enhance their global profile. However, waves of the reverse...more
8/24/2020
/ Cayman Islands ,
China ,
Due Diligence ,
Fairness Standard ,
Financial Adviser ,
Financing ,
Global Market ,
Going-Private Transactions ,
Majority Shareholders ,
Nasdaq ,
Parental Consortium ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Special Committees ,
Stock Exchange
Investing in unicorns is a high-stakes game. These companies are often run by strong, charismatic founder teams, with no shortage of willing investors eager to accept their terms. However, it is important to know your bottom...more
In Part I of this article, we discussed the possibility of PE investors, their portfolio companies, or their respective counterparties invoking material adverse change (MAC) or force majeure (FM) clauses to be relieved of...more
In Part I of this article, we discussed the possibility of PE investors, their portfolio companies, or their respective counterparties invoking material adverse change (MAC) or force majeure (FM) clauses to be relieved of...more
The COVID-19 (the official name of the 2019 novel coronavirus) outbreak is likely to have an effect on the PE landscape in Asia and on anyone with interests in Asia. In this three-part article, we examine how PE buyers,...more