D&O insurance provider NFP, took a historical look at securities litigation within the SPAC asset class and prepared a report of their findings. Read on to see the results.
Andrew Pendergast, SPAC & GPL Practice Leader, NFP
Jonathan Abbott, FCAS, MAAA, Senior Vice-President, NFP
With the dramatic increase in SPAC D&O rates over the past 18 months we sought to answer whether SPACs are being targeted with securities litigation more frequently now than they have been historically, or if the percentage of SPACs being sued has remained relatively constant while the number of IPOs has increased.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Hong Kong unveiled its rulebook for blank check companies, allowing for listings at the start of next year while setting a strict regime to safeguard investors.
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SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among companies in the NFT space. We look at why they are compelling and why each could be a fit for a blank-check merger.
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CM Life Sciences III (NASDAQ:CMLT) announced this morning that its shareholders approved its combination with biotech firm EQRx in a special meeting yesterday.
The 8-K did not disclose redemption figures but, CM III went into the vote with at least some risk having traded below $10 since August.
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AP Acquisition Corp. announced the pricing of its $150 million IPO and its units are expected to begin trading on the NYSE under the symbol “APCA.U” Friday, December 17.
The new SPAC focus on the de-carbonization / renewable energy sectors, with a particular focus in Japan /Asia (excluding Mainland China, Hong Kong and Macau) and European markets, and complement the experience of our management team and its operational expertise.
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Revelstone Capital Acquisition Corp. announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “RCACU” Friday, December 17.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Spree Acquisition Corp. 1 Limited announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “SHAP.U” Thursday, December 16.
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FTAC Emerald Acquisition Corp. announced the pricing of its $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EMLDU” Thursday, December 16.
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Ault Disruptive Technologies Corp. announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ADRTU” Thursday, December 16.
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Investindustrial Acquisition Corp. (NYSE:IIAC) announced this afternoon that its shareholders have approved its combination with Italian fashion group Zegna in a special meeting held earlier today.
The business combination was overwhelmingly approved as 35,660,185 shares voted in favor of the deal.
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