The special purpose acquisition company (SPAC) market has begun to cool, and with that, private investment in public equity (PIPE) transactions, a financing tool used to facilitate de-SPAC transactions, have also encountered some difficulties. A changing landscape for SPACs calls for an extra measure of flexibility and a willingness to consider alternatives in connection with structuring the accompanying SPAC PIPE transaction. Below, we explore the changing dynamics of the SPAC PIPE market and summarize a number of common structuring alternatives.

Originally published in Bloomberg Law.