Special purpose acquisition companies (SPACs), sometimes known as "blank check companies," are gaining traction as a potential alternative to traditional initial public offerings (IPOs). The SPAC is a firm that has no commercial operations and was founded solely to obtain funds through an initial public offering in order to acquire another company.
The target firm integrates with SPAC and becomes a publicly traded corporation on the stock exchange once SPAC purchases it. SPACs allow companies to go public in a fraction of the time (a few weeks to months) and for a fraction of the cost of a regular IPO. The average time it takes a SPAC to buy a target firm is about two years. If the SPAC fails to meet its objectives, the SPAC will dissolve and return the funds to the investors if the business combination is not completed within the stated time period.
Despite the fact that SPACs have been available for decades, they have become more popular in recent years, particularly in the United States.
- Corporate / Commercial Lawyers
- VPs and Managers from Legal Department
- Managing Directors and Senior Management
- CFOs and Senior Finance Executive
- Executives of M&A Team
- Directors of Strategic Planning
- Contract Managers / Specialists
• An Introduction
• An Overview of SPAC Structure
• Instruments Issued in SPAC Structure
• Valuation of the Founder Shares and the Founder Warrant in SPAC
• Conclusion
CA. Amrish Garg
Business valuation for the purposes of mergers and acquisition, corporate restructuring,
insolvency, financial reporting, regulatory compliances, sales/purchase agreements,
shareholder disputes, portfolio valuation, etc.
Valuation of intangible assets or intellectual properties.
Valuation of complex financial instruments including convertible preference shares,
convertible notes, restricted stock units, Simple Agreement for Future Equity (SAFE),
stock options, financial guarantee, liquidation preference rights, etc.
Valuation for investment impairment/goodwill impairment testing.
Valuation of carried interest of general partners in private equity/hedge funds.
Valuation of life insurance policies and split-dollar loan agreements.
Experience of valuing companies/assets across industries and stage of business cycle –
Logistics, Supply Chain, Healthcare, Manufacturing, Retail, E-commerce, Consumer
Goods, Hospitality, Power, Technology, Media, NBFC, etc.