Special purpose acquisition companies used to be a small segment of the initial public offering market but are now booming with the deal advice from “elite law firm” including Ropes & Gray.
In a Business Insider article, capital markets partner and co-chair Paul Tropp (New York) notes there is large amount of SPAC IPO deal activity that is coming this fall. "I'm on more live transactions at this point than I have ever been at any time in my career," said Paul.
The IPO is the first major event in a SPAC's legal process, with the second being a merger with an operating company. Attorneys at Ropes & Gray and other elite law firms are advising on SPAC IPOs and increasingly called upon to assist as legal counsel on business combinations involving SPACs.
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