Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 33 n° 335

ICR Publishes Guide to a Successful Special Purpose Acquisition Company

Posted by fidest press agency su giovedì, 9 Maggio 2019

ICR, a leading strategic communications and advisory firm, today announced the release of ICR’s Guide to a Successful SPAC. This primer update for SPACs provides an overview of the SPAC market, explains how and where SPACs typically list, which investment banks work on these IPOs, the emerging interest of institutional investors, and the unique communications challenges for executing a successful transaction or “de-SPACing.” SPACs, formed to raise capital in an initial public offering with the purpose of identifying and acquiring one or more operating companies, are generally given up to two years to complete a successful business combination.“SPACs are attracting higher quality acquisition targets and more private equity firms are willing to take back roll-over equity as part of consideration in the deal. Yet structurally, SPACs still provide the business seller with more liquidity than a typical IPO,” said Don Duffy, President of ICR. “As the deal size grows, we are also seeing increased institutional investor participation in these transactions.”
More than 70 public SPACs hold approximately $20 billion in cash and have not yet completed acquisitions. In the first quarter of 2019 alone, 14 SPACs raised over $3 billion, almost exceeding the issuance from all other types of IPOs combined.The de-SPAC process begins once the SPAC announces its proposed acquisition, representing the start of a high-stakes, condensed timeline to complete the transaction.To be successful, SPACs need an experienced team that understands the de-SPACing process, the industry, and the challenges related to announcing an acquisition and the shareholder vote process. In addition, an important, but often overlooked, aspect of the communications strategy is to begin to transition the narrative from the SPAC sponsor’s messaging to the go-forward business strategy.

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