Introduction to U.S. SPACs

Special Purpose Acquisition Companies (SPACs) have become wildly popular in the U.S. over the last year, and already in 2021, the value of investments in Asia via SPACs has nearly doubled the amount committed during all of 2020. The Hogan Lovells Corporate and Finance practice held a webinar on Thursday, 15 April 2021 and talked about SPAC transactions, the players involved, the benefits and drawbacks of such transactions, and how Hogan Lovells can support you in cross-border SPAC transactions.

A SPAC is formed to raise money through an initial public offering in order to buy another company (thus taking the target public without the target having to go through the traditional IPO process). The challenge, however, lies in the fact that a SPAC can’t have a specific target company in mind when initially formed, and the SPAC has limited time to acquire a suitable target once created.

In this webinar, we covered the following to get you up to speed on SPACs:

  • General terminology and the parties involved in a SPAC.
  • Typical timelines involved in a SPAC transaction.
  • Economics and deal structures for SPACs.
  • Cross-border considerations for SPACs .
  • Pros and cons of SPACs.

If you were unable to join us for the webinar the recording is available upon request.

Please feel free to contact tokyoevent@hoganlovells.com.


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