News & Analysis as of

Special Purpose Acquisition Companies (SPACs)

Ropes & Gray LLP

Capital Markets & Governance Insights - October 2024

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SEC Developments - In Twin Actions, SEC Charges Former Kubient CEO for Fraud and Former CFO and Audit Committee Chair for Failing to Investigate and Perpetuating CEO’s Fraud....more

Dechert LLP

2024 Election - Implications on Private Equity & Private Credit

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Potential Election Impacts on the Private Equity and Private Credit Sectors - While the 2024 election cycle may introduce temporary uncertainty, the convergence of positive economic trends such as waning inflation,...more

Mayer Brown Free Writings + Perspectives

SEC Testifies Before Congress & Updates from the Division of Corporation Finance

The Chair and Commissioners of the Securities and Exchange Commission testified before the US House of Representatives Committee on Financial Services on September 24, 2024.  The SEC’s testimony provided updates on market...more

Woodruff Sawyer

Financial Accounting and Reporting for SPACs: Expert Tip

Woodruff Sawyer on

We’ll focus on some things SPAC issuers and deal teams are doing differently for this SPAC 4.0 phase, especially in the area of financial statement readiness and accounting. Here are highlights from my conversation with Jenn...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - October 2024

Ninth Circuit Affirms Dismissal of Insider Trading Claims Against Satellite Operator Investors Based on Stock Sales After FCC Chairman Vote - In re Silver Lake Grp., LLC Sec. Litig. (9th Cir. July 24, 2024) What to...more

Wilson Sonsini Goodrich & Rosati

2024 Mid-Year Technology and Life Sciences PIPE and RDO Report

Wilson Sonsini Goodrich & Rosati is pleased to present the 2024 Mid-Year Technology and Life Sciences PIPE and RDO Report, analyzing 124 private investments in public equity (PIPEs) and registered direct offerings (RDOs) by...more

Cooley LLP

NYSE withdraws proposal to extend time period for completion of de-SPAC transaction

Cooley LLP on

In April, the NYSE proposed a rule change that would have amended Section 102.06 of the Listed Company Manual to allow a SPAC to “remain listed until forty-two months from its original listing date if it has entered into a...more

Cooley LLP

What’s Going On With Trump’s Lockup Agreement?

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The impending expiration of the lockup agreement in the context of Trump Media & Technology Group Corp. (Nasdaq: DJT) raises some fascinating legal issues, as well as a once-in-a-lifetime case study on the market implications...more

Latham & Watkins LLP

Key Regulatory Updates for Hong Kong Listed Companies - July/August 2024

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The updates include a consultation paper on a new phase of paper listing and a joint announcement on temporary modifications to requirements for specialist technology companies and de-SPAC transactions....more

Cooley LLP

Update to FAQs regarding de-SPACs and submission of draft registration statements

Cooley LLP on

The 2012 JOBS Act permitted Emerging Growth Companies to initiate the IPO process by submitting their IPO registration statements confidentially to the SEC for nonpublic review by the SEC staff. The confidential process was...more

Cooley LLP

HKEx Relaxes Listing Rules for Specialist Technology Companies and DeSPAC Transactions

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On August 23, 2024, the Securities and Futures Commission of Hong Kong and the Stock Exchange of Hong Kong Limited (HKEx) jointly announced temporary modifications to HKEx’s Listing Rules and guidance materials with respect...more

Latham & Watkins LLP

FPIs in SPAC Land - Considerations for Foreign Private Issuers in Connection With SPACs

Latham & Watkins LLP on

Special Purpose Acquisition Companies that are Foreign Private Issuers or acquire Foreign Private Issuers should be mindful of new SEC rules, especially SEC Guidance on timing of Foreign Private Issuer status. Originally...more

Skadden, Arps, Slate, Meagher & Flom LLP

HKEX and SFC Reduce Barriers for Specialist Technology Company IPOs and De-SPACs

查看中文 The Stock Exchange of Hong Kong Limited (HKEX) and Securities and Futures Commission (SFC) have announced a temporary relaxation of the minimum market capitalization requirements for Specialist Technology Company...more

Jones Day

Hong Kong Modifies Listing Rules of Specialist Technology Companies and De-SPAC Transactions

Jones Day on

The Stock Exchange of Hong Kong Limited ("HKEx") and the Securities and Futures Commission ("SFC") have announced temporary changes to the Hong Kong Listing Rules regarding the minimum initial market capitalization of...more

Cooley LLP

Delaware Court of Chancery Finally Dismisses a de-SPAC Complaint

Cooley LLP on

Since Vice Chancellor Lori Will’s seminal decision in In re MultiPlan Corp. Stockholders Litigation in January 2022, the Delaware Court of Chancery has seen a wave of lawsuits accusing special purpose acquisition companies...more

A&O Shearman

District Of Arizona Grants Motion To Dismiss Shareholder Derivative Suit Against Residential Property Dealer In Connection With...

A&O Shearman on

On August 14, 2024, Judge Michael T. Liburdi of the United States District Court for the District of Arizona granted with leave to amend a motion to dismiss a shareholder derivative suit brought in the name of the company, a...more

Foley & Lardner LLP

What To Expect for the IPO Market in the Second Half of 2024

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The market for initial public offerings (IPOs) in the United States has exceeded expectations in the first half of 2024. According to Renaissance Capital, 69 IPOs were priced by June 30, 2024, marking a 32.7% increase...more

Mayer Brown Free Writings + Perspectives

The State of Disclosure Review

The Director of the SEC’s Division of Corporation Finance (the “Division”), Erik Gerding, shared his views on the state of public company disclosures during 2023 and the SEC Staff’s review priorities for 2024.  The statements...more

Sheppard Mullin Richter & Hampton LLP

Ninth Circuit Applies Birnbaum Rule to Affirm Dismissal of Claims by SPAC Investors Asserted Against Target Company Executives for...

In Max Royal LLC v. Atieva, Inc., No. 23-16049, 2024 U.S. App. LEXIS 19910 (9th Cir. Aug. 8, 2024), the United States Court of Appeals for the Ninth Circuit affirmed the dismissal of a securities class action brought by...more

Fenwick & West LLP

Securities Law Update - August 2024

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Welcome to the latest edition of Fenwick’s Securities Law Update. This issue contains news on...more

A&O Shearman

Ninth Circuit Affirms Dismissal Of Exchange Act Claims Against Post deSPAC Company, Holding That Shareholders Of The SPAC Lack...

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On August 8, 2024, the United States Court of Appeals for the Ninth Circuit affirmed United States District Judge Yvonne Gonzalez Rogers’s dismissal of a putative securities class action asserting claims under Sections 10(b)...more

Cornerstone Research

Securities Class Action Filings: 2024 Midyear Assessment - Summary of Trend Filings

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This is an excerpt from Securities Class Action Filings 2024 Midyear Assessment - This figure highlights recent trend categories that have appeared in core filing activity. See the Glossary for definitions of each trend...more

Fenwick & West LLP

Seattle Tech Week Takeaways: How to Set the Stage for Your Big Exit

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After a touch-and-go few years, the environment for exits like IPOs and mergers is beginning to show signs of life. And with new green shoots forming, there’s no better time for up-and-coming companies to ensure they're...more

Cornerstone Research

Securities Class Action Filings: 2024 Midyear Assessment - Key Trends in Federal Filings

Cornerstone Research on

This is an excerpt from Securities Class Action Filings 2024 Midyear Assessment - COVID-19-related filings are on pace to increase by 27% in 2024. The number of cryptocurrency-related filings in 2024 H1 (three) was in line...more

Cornerstone Research

Securities Class Action Filings: 2024 Midyear Assessment

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The number of securities class action filings increased in the first half of 2024 relative to the second half of 2023, according to a report released today by Cornerstone Research and the Stanford Law School Securities Class...more

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