SPACs, or “blank check” Special Purpose Acquisition Companies, have surged over the past two years, raising over $75 billion (about half the total US IPO market) last year alone. Recent SEC statements add complexity to accounting and disclosure rules for SPACs and could chill the market. Even so, De-SPAC (the merger of a SPAC into a private company, taking it public) transactions will trigger more M&A and PIPE deals at least through 2022.
Continue Reading SPACs Fuel Hot M&A and IPO Markets – Will SEC Cool the Fire?
Regulatory Updates
U.S. Announces Expanded Sanctions Targeting Russia
By Dara A. Panahy, Bijan Ganji, Pinky P. Mehta & Sean Heiden on
On April 15, 2021, U.S. President Joseph Biden signed an executive order (the “Executive Order”) that establishes a new authority for imposition of additional sanctions targeting the Russian Federation in response to Russia’s “continued and growing malign behavior.”
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FTC & DOJ Announce Temporary Suspension of HSR Act “Early Termination” and New HSR Act Thresholds
By Fiona A. Schaeffer, Andrew S. Wellin & Joseph Rafferty on
On February 4, 2021, the US Federal Trade Commission (“FTC”) and the US Department of Justice (“DOJ”) jointly announced that they would immediately suspend the common practice of granting “early termination” of the initial 30-day waiting period under the Hart-Scott-Rodino Act (“HSR Act”).
Continue Reading FTC & DOJ Announce Temporary Suspension of HSR Act “Early Termination” and New HSR Act Thresholds