In Reuters Legal Video, Paul Tropp Examines SPAC Growth and Law Firm Impact
In the video, capital markets partner and co-chair Paul Tropp (New York) explains that coronavirus was a catalyst for SPACs because investors were seeking certainty in a volatile fluctuating market. In 2020, a record 254 SPACs raised $78 billion. There have already been more than 65 SPAC deals in January 2021.
Paul notes that Ropes & Gray is advising industry participants on recent U.S. Securities and Exchange Commission disclosure guidance regarding SPACs and working across the firm with insurance and trust & estates practices.
SPAC growth was also been driven by well-known market participants including the Pershing Square Holdings $4 billion SPAC, which Ropes was involved with.