WSJ: SPACs are Back

An article in today’s Wall Street Journal (page C1) actually uses the headline “risk is back now,” showing that there remains a particular point of view about SPACs in the media, but such is the lot of the RM world at times. The good news: several SPACs actually completed mergers where none had been able ...

IPOs are Waking Up

The Wall Street Journal reported yesterday that the IPO market is waking up. Five IPOs were completed just this week. But it’s been pretty quiet for the year before that. Three or four a month is better than none, but not yet a trend. In the height 400 IPOs a year were zooming through, that’s ...

Tip of the Week: Shells With Cash 2

Lately I have been asked increasingly about shells with cash. Especially now with the capital markets still challenging, especially for financings of going public transactions, it seems logical to try to find a shell company that can also provide a built-in ability to raise capital. No worries about whether the investment bank you hire can ...

WRASP-Type Structure Catches On 1

The Reverse Merger Report notes in its September issue that Lihua International, Inc., which makes copper wire in China, completed a secondary public offering raising $9.2 million. This after raising $15 million in a PIPE contemporaneous with its reverse merger with a Form 10 shell back in October. Disclaimer: my firm represented the shell in ...

Want To Support Our Petition For Rulemaking on Rule 144(i)? 2

A number of friends have asked if they can participate in the effort we launched almost a year ago to advocate before the SEC to reverse the so-called “evergreen” requirement included in Rule 144(i) which was effective in February 2008. The text of our original petition, submitted by nine law firms last October, can be ...

Let Us Not Forget…

Reprinted from our sister blog at www.crisispost.com: I thought I would share with my faithful blogees an email that I sent yesterday to my employees and firm alumni. All: As the bus taking us to the Ellis Island dinner for a conference last night passed the World Trade Center site, so many thoughts brought back ...

As We Start a New School Year…RM Wish List 2

My children are ready. My big one already back in college. My little one getting ready for the big jump to second grade. There is a chill in the air here in NY in the evenings. Yep, it’s a new school year. So I thought I’d use this occasion to provide for my hopes for ...