SPACs and companies pursuing these transactions will continue to need expert advice. Best practices start prior to announcing a transaction. We have seen a sharp increase in short attacks post-closing, that in many cases are being driven by poor or sloppy disclosure practices and a lack of public company readiness. “With any rapidly developing financial instrument, as transaction volumes increase, so do the risks. “The strong interest in SPAC IPOs is being driven by the private market’s desire for broader liquidity and exit options beyond a traditional IPO,” said Phil Denning, Partner at ICR. “We do this by assembling a hands-on team of industry-focused investor relations, public relations, and corporate governance experts to advise both the SPAC sponsor and the target company leading up to the deal announcement, during the de-SPAC process, and after the deal closing to ensure a smooth transition to life as a publicly listed entity.” “ICR’s role in SPAC transactions is to help drive optimal outcomes for our clients by preparing for and executing on critically-important and fully-integrated investor, analyst, and media marketing, communications, and awareness campaigns,” said Don Duffy, President of ICR. ICR advised on more than 50 SPAC transactions in 2020, including the five best performing SPACs of the year, according to Investopedia. The SPAC IPO momentum is continuing in January 2021 with 90 SPAC IPOs as of January 29, compared to just eight SPAC IPOs in full first quarter of 2020. This strong full year and fourth quarter SPAC IPO activity resulted in 274 active public SPACs holding more than $86 billion in cash as of December 31, 2020. The full year of 2020 was transformative for SPACs, with 248 IPOs raising over $83 billion. SPAC IPO issuance accelerated at a record pace in the fourth quarter of 2020, with 132 SPACs raising $39 billion, up from the $32 billion raised in the third quarter of 2020. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.NEW YORK-( BUSINESS WIRE)- ICR, a leading strategic communications and advisory firm, today released its Q4 2020 SPAC Market Update. On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. During Q4, the fund purchased 373,000 shares. Linden Advisors: 3.01 million shares or 2.6% ownership.During Q4, the fund kept its position unchanged. Empyrean Capital Partners: 3.2 million shares or 2.7% ownership.During Q4, the fund purchased 2 million shares. Fort Baker Capital Management: 3.3 million shares or 2.9% ownership. Millennium Management: 4.2 million shares or 3.7% ownership.Additionally, IPOF is Cowen’s largest position. During Q4, the fund purchased 6.3 million shares. Cowen and Company: 6.5 million shares or 5.6% ownership.Here are the top five shareholders of IPOF common stock: As of Q4, a total of 121 funds owned the SPAC in their portfolios, which was a quarter-over-quarter increase of 2.5%. According to WhaleWisdom, institutional investors own 67 million shares of IPOF stock, which was an increase of 12% compared to the previous quarter.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |