Hedge Fund-Backed SPAC Leads 3 IPOs Raising $860M Total

Law360 (September 10, 2020, 4:16 PM EDT) -- A blank-check company backed by activist hedge fund Starboard Value led three initial public offerings to hit markets Thursday after raising a combined $860 million, adding to the yearlong blitz in IPOs by special purpose acquisition companies.

Starboard Value Acquisition Corp., whose sponsor is affiliated with hedge fund Starboard Value LP, raised $360 million after selling 36 million units at $10 each. Advised by Akin Gump Strauss Hauer & Feld LLP, the company upsized its IPO from original plans to sell 30 million units.

Prime Impact Acquisition I joined the fray as well, raising $300 million. The technology-focused company, advised by...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!