How SPACs Should Respond To Increasing Scrutiny

By Jeffrey Steinfeld and James Smith (June 22, 2021, 4:49 PM EDT) -- In the past year, special purpose acquisition companies, or SPACs, have seen enormous growth in use and popularity.

SPACs are shell companies with no operations that proceed in two stages. First, the SPAC raises money through an initial public offering and places the proceeds in trust. Second, the SPAC then has a specified amount of time — usually two years — to find a private operating company to take public through a business combination known as a de-SPAC transaction.

In 2020, there were 248 SPAC IPOs, nearly five times the amount in 2019, and in 2021, there have already been 336...

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!

TRY LAW360 FREE FOR SEVEN DAYS

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!