Starboard Looks To Tap Into SPAC IPO Rally With $300M Float

Law360 (August 18, 2020, 9:16 PM EDT) -- Activist hedge fund Starboard Value unveiled plans Tuesday to take a blank check company public through a $300 million offering led by Akin Gump and Kirkland, preparing to join a slew of special purpose acquisition company floats in recent months.

The market has been inundated by similar offerings this year, as blank check companies — also known as SPACs — have looked to raise cash to take private companies public, generally within 24 months after the IPO. And hedge funds like Starboard are increasingly looking at the take-public method, even as the traditional IPO market has roared back to life despite...

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