Analysis

5 Legal Tips For SPACs Facing Looming Acquisition Deadlines

By Tom Zanki (March 14, 2022, 5:29 PM EDT) -- More than 150 special purpose acquisition companies face deadlines this year to acquire a target or return money to shareholders, a process sure to be scrutinized by regulators and litigators for signs of rushed deals.

The deadline crunch follows a surge in SPAC initial public offerings in 2020, a pivotal year that resulted in a booming market for these alternative funding vehicles. SPACs, also called blank-check companies, raise money in IPOs in order to acquire a target and take it public, typically operating on timetables of two years or less.

According to research firm Dealogic, 153 SPACs that went public in...

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