Corporate and M&A

A SPAC (Special Purpose Acquisition Company) is a corporation established for the sole purpose of issuing investment capital through an initial public offering (IPO). Such a business structure permits investors to provide money towards a fund, which is then used to acquire one or more uncertain businesses to be recognized after the IPO. On the heels of a record-breaking year in 2020, special purpose acquisition company (SPAC) initial public offerings (IPOs) set a new record in January 2021 by raising nearly $26 billion in proceeds in a single month. Through the continued success of SPAC transactions, many private operating companies have been merging with SPACs to raise capital rather than using traditional IPO or other financing activities.

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