New SPAC-meisters?
By David Feldman at 4 April, 2009, 7:21 am
I am hearing more about individual groups talking about setting up SPAC-type vehicles. So far we are hearing mostly from foreigners proposing to be sponsors. They seem more willing to consider alternative structures to the traditional one which was attractive to investors but at times challenging for companies merging in. We need to remember that you only need to be raising $5 million to be free of the SEC’s restrictions on taking a blank check company public. Some are thinking about raising a small amount of money, but not having as many restrictions.
Stay tuned, and let me know if you hear of anything as well!
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