In a recent installment of the Capital Markets Series, I joined Jon Campagna, CFO of Virgin Galactic, and other experienced advisors and professionals from KPMG and BofA to discuss how private companies can unlock capital-raising opportunities offered by “blank check” investors, also known as SPACs.
Here are some major takeaways.
The scope of SPAC targets in 2020 has expanded, with M&A deals being initiated and completed across almost all sectors. As of the end of September, there were seven technology transactions totaling almost $8 billion and four totaling $8 billion in business services, which other than one deal last year, had not seen a SPAC acquisition since 2013. In addition, there have been three industrial deals, three consumer acquisitions, two financial institution transactions, a media deal, a healthcare deal and an energy deal.
The Capital Markets Series was hosted by Fenwick, KPMG and BofA.