Liquidation Alert: Electrum Special Acquisition Corporation
Definitive Agreement with SMAAASH Entertainment
I-AM Capital announced their business combination today with SMAAASH Entertainment Private Limited (“SMAAASH”), a global virtual reality gaming and sports entertainment company, headquartered in Mumbai, India. ...READ MORE
May is turning into SPAC season for reasons both good and bad
Let’s get the bad news out of the way first
There are currently five SPACs that have set dates for “special meetings” to vote on extending their completion deadlines, with two more due at the end of June that are sure to do the same. ...READ MORE
Trinity Merger Corp. – IPO Expected Week of May 7th.
Noteworthy events of the last week…
First up is Barington/Hilco with the announcement they have terminated their LOI with Specialty Brands Holdings. For those that can remember that far back, Barington/Hilco IPO’d on May 5th of 2015 and were supposed to complete a business combination in 21 months. ...READ MORE
Below is the recently released Q1 2018 SPAC IPO Underwriting League Table
Deutsche Bank took the top spot in the first quarter of 2018, with three Special Purpose Acquisition Company (SPAC) transactions and a total volume of $850 million. DB was the bookrunner/lead for Platinum Eagle, Nebula and DFB Healthcare, which were some of the largest SPAC transactions in the quarter with $325 million, $275 million and
Below we have compiled and released our 2017 SPAC IPO Underwriting League Tables
To no one's surprise, the top three SPAC underwriters for 2017 were (ranked by volume) Credit Suisse, Citigroup and Deutsche Bank. These three banks are a formidable presence in the Special Purpose Acquisition Company market and continue to lead the sector while accounting for 52.6% of the total market share in 2017.
Now that the first quarter of 2018 is complete, we have released our Q1 2018 SPAC IPO Legal League Tables
It's been an active quarter for Ellenoff Grossman & Schole ("EGS"), as they are once again leading the Special Purpose Acquisition Company Legal League for Issuer's Counsel with four assignments. EGS leads the quarter overall in the categories of Total Volume(#1), Total Deal Count(#1), Issuer's Counsel(#1) and Market share (19.6%).
Below we have compiled and released our 2017 League Tables
Let's drill down on the 2017 SPAC IPO Legal League results...
As you can see, the top three law firms providing legal counsel to Special Purpose Acquisition companies (by volume) are Weil, Gotshal & Manges, Ellenoff Grossman & Schole ("EGS"), and Skadden, Arps, Slate, Meagher & Flom ("Skadden"), accounting for nearly 50% of the market share.