Partner Howard Kenny spoke with Private Equity International about current trends in the special purpose acquisition company (SPAC) market. Howard shared that today’s deals are often done on a smaller scale and sometimes include stricter time constraints. Convertible debt and preferred stock, rather than just pure equity, are occasionally included in PIPE financing in order to increase sponsor and investor alignment, he said. Going into 2022, Howard added that “[SPACs] still make a lot of sense for some companies that want to go public.”
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