SPAC Mergers and Acquisitions: Structuring and Deal Terms, SEC Scrutiny
Pricing and Consideration, Recourse, Earnouts, Closing Conditions, Allocation of Board Seats
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will examine the features of de-SPAC merger transactions. The panel will discuss deal terms typically negotiated between the SPAC and the target and how they vary from conventional deals. The panel will also analyze the de-SPAC process of taking the target public, including the offering timeline, pricing, and allocation of shares.
- The de-SPAC merger: typical structure
- How de-SPAC merger terms vary from standard M&A transactions
- Options for existing SPAC shareholders: warrants, redemption
- Need for cash after closing: PIPEs
- Securities disclosure issues with taking the target public and increased SEC scrutiny
The panel will review these and other concerns:
- What issues should be considered upfront before a SPAC proceeds to make an offer on a target company?
- What is the result of de-SPAC transactions for securities law purposes, and how does that affect the process?
- How do de-SPAC merger deal terms vary from most M&A transactions?
- How can PIPE financing facilitate closing?
Foley & Lardner
Ms. Allen is a strategic advisor for her clients, supporting leadership teams in complex decision making. Prior to... | Read More
Ms. Allen is a strategic advisor for her clients, supporting leadership teams in complex decision making. Prior to joining Foley, she was a founding partner at a corporate and transactional law firm, where she counselled startups and emerging companies on debt and equity financing, venture capital financing, commercial matters and general corporate matters including formations, corporate governance, structuring and share issuances across a variety of industries including AI, fintech, robotics and life sciences. Ms. Allen’s transactional experience includes mergers, acquisitions and divestitures, including domestic and cross-border buy-side and sell-side transactions in AR/VR, software, cybersecurity, telecommunications and healthcare industries. She draws on a depth of experience developed in a combination of law firms, business consulting firms and startups in both Canada and the U.S. She was previously managing counsel at a technology enabled law firm where in addition to her management role, she acted as external general counsel for clients from inception through exit.Close
Brandee L. Diamond
Foley & Lardner
Ms. Diamond provides legal advice to investors, corporate boards, and public and private companies in a range of... | Read More
Ms. Diamond provides legal advice to investors, corporate boards, and public and private companies in a range of industries including life sciences, technology, food and beverage, apparel, print and digital media and financial services. She has extensive experience with complex domestic and cross-border transactions, corporate mergers and acquisitions, dispositions, minority investments, joint ventures and assisting with growth equity transactions, leveraged buyouts, going-private transactions, recapitalizations and exits. Ms. Diamond works in all aspects of the deal process including working with corporate boards and senior management on pre-acquisition planning, transaction structuring, drafting and negotiating acquisition, and related agreements and post-acquisition integration planning. In addition to her transactional work, she counsels emerging growth companies across the full spectrum of the company’s lifecycle including formation and development, compensation, financing and other corporate matters.Close