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Highlights from Cooley’s M&A Dealmakers Roundtable: SPACs!

Cooley M&A

is the increased frequency at which SPAC IPOs are occurring. As reflected in Chart 1 , 102 SPAC IPOs have been announced this year as of September 18, 2020—almost double the number of SPAC IPOs in all of last year (and more than double the number of SPAC IPOs in 2018). SPAC vs. IPO. A distinct feature of SPAC 3.0

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How do Banks Make Money? Explanation, Examples

Peak Frameworks

The world of banking can be broadly divided into: Retail Banks: Think of your local branch where you have your checking and savings accounts. You deposit $10,000 in a bank savings account earning 0.5% Overdraft Fees: If you've ever spent more than what's in your checking account, you've probably been hit with an overdraft fee.

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SPAC Trend Gives Rise to Securities Enforcement and Litigation Risks

Cooley M&A

According to Nasdaq , in 2015, SPACs made up approximately 12% of the IPO market, but by 2020, that number had risen to approximately 53%. SPACs are predicted to be an even higher percentage of the 2021 market share, with SPACs representing 79% of the January IPOs. In In re Benjamin H.

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Transfer Traps: Considerations for Dual-Class Companies Contemplating M&A Transactions

Cooley M&A

There are compelling rationales for adopting a dual-class structure, but even proponents of the structure generally acknowledge that these benefits are significantly mitigated once the dual-class shares are out of the hands of the founders and/or pre-IPO stockholders. Potential carve outs for M&A voting agreements. Stockholder litigation.

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UK Government plans new one-stop-shop for research as it paves way for removing unbundling rules

The TRADE

AFME notes that similar themes are being addressed in ongoing discussions by other policymakers, and it is important for the respective UK initiatives to take account of developments in other jurisdictions such as the US and EU.”

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Delaware Finds Stockholder Claims Against SPAC Fiduciaries Subject to Entire Fairness Review

Cooley M&A

As SPAC IPOs broke records – in both value and volume – in 2020 (and again in 2021), it was inevitable that stockholder litigation would follow. Churchill was incorporated in Delaware in October 2019 and closed its $1.1 billion IPO in February 2020. On January 3, in In re MultiPlan Corp. Stockholders Litigation (Del.

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Cooley’s 2023 Life Sciences M&A Year in Review: Potent Mix of Creativity and Resilience Spurs Activity Heading Into 2024

Cooley M&A

Strained access to public markets and funding The IPO market remained relatively inactive in 2023, leading many life sciences companies looking to raise funds to turn to other exit strategies. Additional major acquisitions of 2023 included Pfizer’s acquisition of Seagen for $43 billion and Merck’s acquisition of Prometheus for $10.8

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