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Has the SPAC Spigot Finally Run Dry?

In an article published by The American Lawyer, Mintz Member and Chair of the firm’s Energy & Sustainability Practice Tom Burton was among corporate lawyers to comment on the sharp decline in the special purpose acquisition company (SPAC) initial public offering market, which he said can be attributed to several business and accounting factors such as decreased appetite from private investment in public equity (PIPE) investors to support recent SPAC valuations, as well as the recent U.S. Securities and Exchange Commission decision to qualify warrants as a liability rather than equity on financial statements.


The American Lawyer