6 CFIUS Considerations For De-SPAC Transactions

By Ivan Schlager, Nathan Mitchell and Michelle Weinbaum (March 22, 2021, 3:43 PM EDT) -- Although special purpose acquisition companies, or SPACs, have been in use for decades, there has been a striking increase in their popularity over the past year, with several hundred transactions completed since 2020.

A SPAC is a shell company that undergoes an initial public offering, followed by acquiring a target company, resulting in that target company being publicly traded — that follow-on acquisition being the de-SPAC transaction.

SPACs offer a number of advantages in quickly bringing private companies to the publicly traded market compared to the traditional IPO. But, as financial regulators increase scrutiny on SPACs, sponsors and potential targets need...

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