Demystifying Special-Purpose Acquisition Companies (SPACs): Separating the Potential from the Hype
Special-purpose acquisition companies (SPACs), also known as “blank-check companies,” have recently reemerged as a feasible acquisition vehicle for many private companies. The sole purpose of SPACs is to purchase other companies by raising capital through initial public offerings (IPOs). This type of investment provides considerable advantages to firms and investors such as public listing, capital sourcing, flexible ownership, and control, as well as specialized expertise from a SPAC sponsor.
However, although SPACs provide unique benefits and significant investment opportunities, companies and practitioners must still be wary of the potential risks this type of investment brings.
Listen as experienced commercial litigation attorneys Adam Karageorge (The Brattle Group) and Kevin E. Manz (King & Spalding LLP) offer a comprehensive discussion of the pros and cons of SPACs. Speakers will also talk about the current and emerging SPAC investment trends as well as address how to maximize relevant opportunities while mitigating risk issues.
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Associate The Brattle Group
Mr. Karageorge’s experience as both an economic consultant and a litigator positions him uniquely to support legal counsel and expert witnesses in complex litigation matters. As an associate, he analyzes corporate fraud and Ponzi schemes, shareholder securities class actions, valuation disputes, accounting fraud, and auditor liability. His case work is in contract disputes, business enterprise valuation and economic impact analyses, hedge fund corporate governance, regulatory and reporting compliance, industry standards of care, auditor liability litigation, and causation and damages. Prior to joining Brattle, Mr. Karageorge gained an extensive legal background through positions at several prestigious legal and financial firms. He also previously served as a law clerk to the UN Ambassador to Cambodia in Phnom Penh.
Partner King & Spalding LLP
Kevin Manz is a counsel in King & Spalding’s Capital Markets practice. Kevin represents public and private companies in a variety of capital markets and corporate matters spanning a broad range of industries. He has extensive experience advising clients on public and private offerings of both equity and debt securities, including IPOs, secondary offerings, liability management transactions and securities issued in connection with mergers and acquisitions. In addition, Kevin regularly advises clients on Securities and Exchange Commission disclosure requirements, governance issues and other corporate and securities matters, including investments in and divestitures of public company securities. He has also represented public companies in various acquisitions and divestitures from both the seller and buyer perspective. Kevin also regularly advises clients on Employment and Executive Compensation matters, including compensation regime design, disclosure, tax and governance issues.
