On Demand Course Leader : Sean Farrell, Practical Law Canada - Capital Markets & Securities Duration : 1 hour 0 minute Price:
Special purpose acquisition corporations (SPACs) have recently emerged in the Canadian capital markets. Although SPACs have existed in the U.S. market in various forms since the early 1990s and the Toronto Stock Exchange adopted specific rules to permit the listing of SPACs in 2008, no SPACs had been launched in Canada until March 2015. Since that time, five SPACs have completed initial public offerings (IPOs), raising over $1 billion, and additional SPACs have filed IPO prospectuses.
In the United States, SPAC IPOs have continued their strong run backed by high-profile sponsors, and a number of SPACs have recently completed successful business combination transactions.
SPACs are “blank check companies” that raise capital from the public and then have a limited time period in which to complete their initial business combination transactions or return the capital to their public investors. How the business combination or “de-SPACing” process unfolds – and how the SPAC IPO market has evolved – will be of interest to current and potential sponsors and founder groups, investors, potential acquisition partners and targets, and all of their legal and financial advisors.
Also of Interest Be sure to also visit What's Market, which provides a continuously updated database of prospectuses (including prospectuses filed by SPAC issuers) and public and private merger agreements involving Canadian companies. The What’s Market database allows the viewer to analyze and compare negotiated deal provisions in M&A transactions and also contains links to the underlying public documents.
For common law provinces: This webinar qualifies for 1 h of substantive content.
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For Quebec: This webinar has not been accredited by the Barreau du Québec.
For the US: This webinar is accredited for CLE in the following US states: New York, California, Illinois, New Jersey, Pennsylvania, Georgia, Colorado, Washington, Arizona, Hawaii, New Hampshire, Missouri, Vermont. CLE credit is being sought for: Tennessee, Texas, Virginia. CLE can be self-applied for: Florida.