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The Latest SPAC News and Rumors: July 26, 2021


The Latest SPAC News and Rumors: July 26, 2021

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Canoo names former diplomat as its president, and Bloomberg Law reports law firms are cashing in on de-SPACs

Electric Car Startup Canoo Names Former Diplomat As President

Electric car startup Canoo Inc (NYSE:GOEV.O) on Monday named Josette Sheeran, a former diplomat, as its president.

Hennessy Capital Acquisition Corp. IV completed its $1.84 billion business combination with Canoo on December 21.


The SPAC Explosion Dimmed But Law Firms Are Still Cashing Checks

SPACs are no longer raising record levels of new cash, but that’s OK with White & Case partner Joel Rubinstein. Bloomberg Law reported that Rubinstein is optimistic the summer vacations many capital markets lawyers missed out on a year ago might return this August.

While the wave of SPAC IPOs seems to have gone out as fast as it came, some Big Law capital markets attorneys have moved on to the more lucrative, second step in the SPAC process—advising blank check companies in their go-public acquisitions, known as “de-SPACs.”