![]() ![]() The initial sale of stock is the SPAC raise, or SPAC IPO, and the money is held in a trust account until a merger partner is found. ![]() SPACs start by raising capital on a stock exchange, typically pricing their common stock at $10 and offering warrants to buy additional shares as a sweetener to entice investors to buy into the unknown. Early stage companies can more easily comply with the requirements to merge with a SPAC than they can successfully complete an IPO. The advisory fees associated with going public via a SPAC tend to be far lower than the fees charged for a traditional IPO. Although SPAC strategies can be complicated, they tend to take less time to complete than traditional IPO listings and can be cheaper. He has been experienced in working on M&A and de-SPAC transactions, including recently working on Silver Crest’s SPAC merger with Tim Hortons China.In effect, the "special purpose" of a SPAC is to bring a promising private company to the public investment market. Yilong Luo, Associate, Hong Kong, Morrison & Foerster, practice focuses on M&A, PE investments, as well as other general corporate matters. Marcia recently led Silver Crest’s SPAC merger with Tim Hortons China. In the past two years, she has advised on deals with aggregate value of over US$171 billion. Marcia Ellis, Global Chair of Private Equity Group, Morrison & Foerster, practiced in Asia for over two decades, Marcia is one of the most experienced PE/M&A lawyers active in the Asian market. Ruomu recently advised on Silver Crest’s SPAC merger with Tim Hortons China, and on Grab’s US$39.6 billion SPAC merger. She is experienced in public and private mergers, privatization, stock and asset acquisitions, divestitures, spinoffs, JVs and minority investments. Ruomu Li, Partner, Shanghai, Morrison & Foerster, has 15 years of experience in M&A and PE/VC transactions. Vivian recently advised on one of the first Hong Kong SPAC IPOs. Vivian Yiu, Partner, Hong Kong, Morrison & Foerster, has over 20 years of experience advising on a broad range of corporate transactions, including primary and secondary equity offerings in Hong Kong, pre-IPO investments, PIPEs, public and private M&A transactions and formation of JVs. De-SPAC: Specific Considerations for Asia-Based Target Companies.Target’s Wish List for an Indicative Bid.Key Considerations for Targets of SPAC Acquirers.De-SPAC: Key Steps/Illustrative Timeline.The webinar will cover the following topics: This, together with the new sweeping regulations proposed by the SEC on 30 March 2022 which may have a chilling effect on the US SPAC market, we predict that there will be more de-SPACs with Asia-based companies, while China-based targets may favor de-SPACs with Hong Kong listed SPACs.Īt this webinar, Morrison & Foerster’s Partners Vivian Yiu, Ruomu Li, Marcia Ellis as well as Associate Yilong Luo will discuss what investors and companies need to know regarding de-SPAC involving US SPACs and HK SPACs. listed SPACs are still looking for targets with an increasing interest in high quality Asia-based companies. Since Hong Kong’s SPAC regime became effective on 1 January 2022, 11 SPAC IPOs have been filed with the Stock Exchange of Hong Kong and more are expected to come. Webinar Date and time: Wednesday 27 April, 2022. ![]() July 12, 2022įree to attend for In-House Counsel, Company Directors, Compliance Professionals. IHC Magazine: Counsel of the Year, 2021, Results and Awards, plus more.Getting to Know Jessada Sawatdipong of Chandler MHM Limited September 21, 2022.Getting to know Ban Jiun Ean of Maxwell Chambers, Singapore October 3, 2022.Is Business Travel Dead? December 20, 2022.In-House Community Counsel of the Year, 2021 – Awards and Results July 18, 2022.Submissions Open for 2023 In-House Counsel of the Year Awards March 1, 2023.In-House Community Magazine: Feb 2023 issue including Firms of the Year 2022 Results March 1, 2023.In-House Insights with Dr Vincent Ng of AEON September 21, 2022. ![]() In-House Insights with Francesca Gori of Accenture Legal December 15, 2022.How to Harness an Agile and Innovative Mindset During Periods of Change or Uncertainty December 20, 2022. ![]()
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