Blank-Cheque Company Craze That Has Taken Wall Street By Storm Spreads To Asia.
Legal News & Pacific - Asia Pacific - Corporate/M&A
8 February 2021
About 300 SPACs are under pressure to de-SPAC – merge with their target companies – this year, according to law firm Morrison & Foerster, or face the danger of being disbanded, given the 24-month time limit.
"If 2020 was the year of the SPAC, 2021 is the year of the de-SPAC," said Mr Mitchell Presser, co-chair of Morrison & Foerster's global corporate department. "A lot of these SPACs will be looking at Asia for de-SPAC-ing opportunities."