A Bloomberg Law discusses an uptick in special purpose acquisition company IPOs this year, noting that Ropes & Gray advised on deals that raised $8 billion, topping the data compiled by Bloomberg.
Capital markets partner and co-chair Paul Tropp (New York) explains that the bigger SPAC deals are enabling the fee structures of the larger law firms to get involved. “The relationships that the partners at the larger law firms have with SPAC sponsors and increasingly the bulge bracket investment banks that are becoming significant players in the marketplace is all feeding off of one another,” said Paul.
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