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Though Special Purpose Acquisition Companies (SPACs) have been around for decades, they have surged in recent years and can provide an alternative to a traditional merger or IPO. Pillsbury understands SPAC structures and uses a cross-functional team of capital markets, mergers & acquisitions, executive compensation & benefits, tax, and other lawyers to assist clients in crafting an IPO and governance structure that provides maximum flexibility to execute on your post-IPO acquisition strategy and de-SPAC transaction.
Relying on extensive multidisciplinary capabilities, we advise clients navigating the complex life cycle of SPACs and represent companies in SPAC formation and IPO readiness as well as SPAC IPOs and compliance with NYSE and NASDAQ listing requirements.
We also guide clients through the business combination (or “de-SPACing”) M&A process, and with securities law matters in connection with the de-SPAC process, including SEC filings and corporate governance matters and facilitating the SEC clearance process.
Our lawyers assist clients with structuring complex debt and equity financing arrangements (including PIPEs) to facilitate the closing of SPAC business combinations, equity offerings and committed backstop financings (to backstop redemptions from the SPAC trust account), as well as with successful SPAC exits.
We also maintain key relationships with private equity sponsors and other essential SPAC players and can help facilitate important introductions with potential partners.
Pillsbury’s Securities Litigation & Enforcement practice regularly advises clients with respect to litigation and enforcement risks from SPAC IPO through de-SPAC.
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