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In Nasdaq Trade Talks Video, Paul Tropp Addresses State of SPAC Market

Practices: Special Purpose Acquisition Companies, Capital Markets, Securities & Public Companies, Mergers & Acquisitions, Private Equity, Investment Management, Finance, Corporate Governance & Compliance, Risk Management

Capital markets partner and co-chair Paul Tropp (New York) discussed the state of the SPAC market in a Nasdaq Trade Talks video interview. 

Paul explains that the SPAC markets have cooled down recently as a consequence of investor fatigue from massive volumes in Q1 and as a result of guidance issued by the U.S. Securities & Exchange Commission on the accounting treatment of warrants. 

Paul notes a ripple effect of the SEC guidance delaying transactions as attorneys work with accountants to potentially restate SPAC financials. 

He noted in terms of future opportunities that Ropes & Gray has a large pipeline that includes new and returning sponsors for SPAC IPOs and a number of SPAC and target representations on deSPAC transactions.

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