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After a period of tremendous popularity, the SPAC market was at a near standstill from 2009 to 2011. There has been a reawakening in 2011, but limitations still exist. One contributing factor in this decline is the amount of time required for the SEC to review the disclosure documents relating to the business combinations that SPACs propose to engage in.
To overcome this challenge, a new structure called the IPACSM or "Innovated Public Acquisition Company," has entered the market. The IPACSM is designed to operate like a SPAC, but offers increased flexibility on pricing and deal structure and allows for a more rapid transaction cycle by permitting a business combination to be consummated prior to SEC review.
This web seminar with IPACSM creator Mitchell Nussbaum, partner and chair of Loeb & Loeb LLP's Securities Practice, explored the structural elements of the IPACSM and the significant benefits of this groundbreaking new financing vehicle for investors and target companies.
Registration for archive access to this web seminar is free. Click here for archive access or call our office at (516) 876-8006.
- Nuts and Bolts of the IPACSM: Composition of Unit Structure
- Bifurcation of the Regulatory Process: Enabling Transactions to Close in Weeks Rather than Months
- Key Benefits: Timing Certainty, Structuring/Price Flexibility
Mitch Nussbaum focuses on corporate and securities law, with particular emphasis on representation of U.S. and foreign public corporations, investment and commercial banks, and private emerging growth companies in public and private financings (equity and debt), and federal securities law compliance. He has extensive experience with technology and other companies in the U.S., as well as a broad range of companies in emerging markets, including Brazil, China, India, Israel, Russia, Taiwan and Thailand. Mr. Nussbaum provides general corporate, securities, and business counseling to corporate clients and their officers and directors. He advises clients with respect to initial public offerings, follow-on public offerings, going private transactions, PIPE transactions and venture capital financings. He also negotiates and documents acquisitions, mergers, reverse mergers, proxy contests, tender offers, and control contests and has represented issuers and underwriters in more than 60 SPAC public offerings and business combinations.
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