News & Analysis as of

Board of Directors Initial Public Offering (IPO) Special Purpose Acquisition Companies (SPACs)

Woodruff Sawyer

The 2025 Guide to D&O Insurance for SPAC IPOs

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As they go through their initial public offering (IPO) and the subsequent merger & acquisition (M&A) process, special purpose acquisition companies (SPACs) face many regulatory, legal, and business hurdles. Obtaining the...more

WilmerHale

2025 IPO Report

WilmerHale on

This year’s IPO Report offers a detailed review of the IPO market and outlook, including a breakdown of IPOs by industry and the number of IPOs from the leading states over the past five years. We also take a look at the IPO...more

Ropes & Gray LLP

Capital Markets & Governance Insights - January 2025

Ropes & Gray LLP on

Companies should not minimize the extent of a material cybersecurity incident by omitting material facts regarding the scope and potential impact of the incident. Cybersecurity risk factor disclosures should be tailored to a...more

Woodruff Sawyer

Guide to D&O Insurance for De-SPAC Transactions, 2024 Edition

Woodruff Sawyer on

Woodruff Sawyer is the market leader when it comes to placing D&O insurance for companies going public, be it through an IPO, direct listing, or merger with a SPAC (a “de-SPAC” transaction). Experience matters in this arena....more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Adopts Final Rules Affecting SPACs and De-SPACs and Provides Related Guidance

On January 24, 2024, the Securities and Exchange Commission (SEC) adopted final rules that impose significant additional procedural and disclosure requirements on initial public offerings (IPOs) by special purpose acquisition...more

Goodwin

Court Dismisses Post-SPAC Class Action for Lack of Standing

Goodwin on

On March 31, 2023, U.S. District Judge Ronnie Abrams of the Southern District of New York dismissed a putative securities class action against CarLotz, Inc. (CarLotz), and certain of its officers and directors on the grounds...more

Hogan Lovells

In re Forum Mobile: Section 226(a)(3) cannot turn defunct business into blank check company - Corporate / M&A Decisions update...

Hogan Lovells on

In In re Forum Mobile, Inc., C.A. No. 2020-0346-JTL (Del. Ch. Feb. 3, 2022), the Delaware Chancery Court held that Section 226(a)(3) of the Delaware General Corporation Law (DGCL) does not authorize the court to appoint a...more

Woodruff Sawyer

Life Sciences IPO Summit: Insurance and Factors That Impact IPO

Woodruff Sawyer on

Experts from the life sciences industry shared their insights on the steps to going public in a virtual summit hosted by Woodruff Sawyer. The Summit featured leaders representing Cooley, the New York Stock Exchange (NYSE),...more

Woodruff Sawyer

Take Personal Indemnification Agreements Seriously as D&O Insurance Rates Rise

Woodruff Sawyer on

If you are serving as an officer or director of a public company (or a large private company), it has never been more important to make sure that you have an aggressively protective personal indemnification agreement. ...more

Katten Muchin Rosenman LLP

Capital Markets Compass | Issue 1

Stable Road Enforcement Action Post Mortem: Lessons for the SPAC Market After Momentus Begins Trading - Stable Road And Momentus Close Business Combination. On August 11, Stable Road Acquisition Corp., a special purpose...more

Cooley LLP

Alert: ISS Releases Results of 2021 Policy Surveys

Cooley LLP on

Background - This alert summarizes the results from ISS’s 2021 policy surveys, which were released on October 1, 2021. As we explained in our previous alert, ISS collects information each year from institutional...more

Goodwin

Northern District of California Dismisses Shareholder Derivative Suit Concerning Lack of Diversity

Goodwin on

Northern District of California Dismisses Shareholder Derivative Suit Concerning Lack of Diversity; Delaware Court of Chancery Dismisses Stockholder Suit Against Medical Device Company for Failure to Plead Demand Futility;...more

Orrick, Herrington & Sutcliffe LLP

Top D&O Insurance Considerations for SPACs and SPAC Targets

Litigation stemming from the meteoric rise of Special Purpose Acquisition Company (SPAC) transactions means Directors and Officers (D&O) insurance coverage requires heighted attention. Unlike a traditional IPO, where the...more

Goodwin

Delaware Court of Chancery Awards Attorneys’ Fees After Gilead’s “Glaringly Egregious” Litigation Conduct

Goodwin on

Delaware Court of Chancery Awards Attorneys’ Fees After Gilead’s “Glaringly Egregious” Litigation Conduct; S.D.N.Y Grants Plaintiffs’ Partial Summary Judgment in Securities Class Action Against Perrigo; SPAC Investors Launch...more

Conyers

SPAC Litigation: What Happens if the “Blank Check” Bounces?

Conyers on

The demand for Special Purpose Acquisition Company (SPAC) formations in the Cayman Islands increased through the first quarter of 2021 following robust performance in 2020. Whilst the second quarter of 2021 has seen a...more

Goodwin

Limiting SPAC-Related Litigation Risk: Disclosure And Process Considerations

Goodwin on

2020 marked an incredible surge in the prevalence of Special Purpose Acquisition Company (“SPAC”) initial public offerings and business combinations (“deSPAC transactions”). In 2020, there were 248 SPAC IPOs (raising total...more

Fenwick & West LLP

Glass Lewis Announces 2021 Proxy Voting Policy Guidelines

Fenwick & West LLP on

Glass Lewis announced updates to its United States Proxy Voting Policy Guidelines late November 2020. The 2021 Proxy Voting Policy Guidelines include a variety of changes from the 2020 version, including new provisions...more

Fenwick & West LLP

Terms of IPO Lock-Up Agreements for Technology Companies Shift as Direct Listings and SPACs Gain Traction

Fenwick & West LLP on

A recent Fenwick survey found that the length of IPO lock-up agreements for technology companies continues to predominantly be 180 days but that lock-ups are now increasingly subject to early release provisions in connection...more

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