Ropes & Gray has established itself as one of the leading law firms guiding special purpose acquisition company initial public offerings according to the SPAC Research Legal Advisor League Tables for 2020 and 2021, as the global market for SPAC IPOs has raised record proceeds.
The firm has reached a milestone advising on more than 100 IPOs for SPAC issuers, underwriters and sponsor teams with aggregate proceeds of over $42 billion since January 2019.
Ropes & Gray has advised on notable SPAC IPOs for industry leading sponsors such as Altimeter Growth Corp., Ares Management Corporation, Bain Capital, Dragoneer Investment Group, Fortress Investment Group, Glenview Capital, Goldman Sachs Asset Management, KKR & Co., Liberty Media, TCV, and TPG Capital, among others.
In addition, Ropes & Gray advised the underwriters on the novel and record-breaking $4 billion debut of Bill Ackman’s Pershing Square Tontine Holdings, the largest SPAC IPO to-date.
“We are pleased to have worked on so many leading and innovative transactions in this emerging and rapidly evolving investment area” said Ropes & Gray capital markets partner and co-chair Paul Tropp.
Ropes & Gray is also a leading advisor of SPAC Initial Business Combinations. The firm has represented SPACs, targets and financial advisors on dozens of business combination transactions.
Notably, Ropes & Gray is advising Altimeter Growth Corp. (Nasdaq: “AGC”) in its plan to take Grab Holdings public in the U.S. Grab is Southeast Asia’s leading ride-hailing, food deliveries and mobile payments “superapp.” The record-breaking deSPAC transaction, valued at nearly $40 billion, is expected to be the largest-ever U.S. de-SPAC M&A transaction.
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