PYMNTS

FEBRUARY 1, 2021

Special purpose acquisition companies, or SPACs , are now eyeing the Asian market for merger deals as they compete to finalize deals before their initial public offerings (IPOs) expire. SPACs, also known as blank-check companies, have become a popular vehicle on the U.S. According to Bloomberg , 248 SPACs listed on U.S.

Legal 79

Legal Tax Account accountant 79

PYMNTS

JANUARY 19, 2021

Goldman Sachs CEO David Solomon said he doesn’t think the current special purpose acquisition company (SPAC) boom is sustainable, the Financial Times (FT) reported. Companies or investment groups create SPACs to raise money through the sale of stakes to either the public or entities such as private equity funds. billion, FT reported.

Sales 75

Sales 75

Withum

FEBRUARY 1, 2022

In recent years, there has been a substantial increase in the number of companies that go public through a merger with a special purpose acquisition company (“SPAC”). A SPAC is also known as a blank check company and exists only to merge with another company. Benefits and Risks of a SPAC. billion in 2021.

audit 69

audit Sports Technology financial statements 69

PYMNTS

SEPTEMBER 3, 2020

SPACs raise money publicly in order to make a purchase within a set period of time, often around two years. Airbnb's denial of Ackman's SPAC could have come from several avenues, PYMNTS reported , including the nature of a SPAC in which the blank-check company doesn't identify what it's backing until the IPO comes out.

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113

PYMNTS

JANUARY 13, 2021

Billtrust , which works in accounts receivable automation and integrated B2B payments, has completed a special purpose acquisition company (SPAC) merger with South Mountain Merger Corp. PYMNTS reported on Billtrust's intent to go public via SPAC in October, with the combined firm slated to be listed publicly with a $1.3

B2B 86

B2B Account accountant accounted 86

PYMNTS

OCTOBER 4, 2020

a special purpose acquisition company or SPAC , with the Securities and Exchange Commission (SEC). A SPAC is a shell company established to help another company go public, after which a reverse merger happens with another company. Josh Harris , co-founder of Apollo Global Management , said the SPAC trend is not a flash in the pan.

Technology 103

Technology 103

PYMNTS

JANUARY 8, 2021

But there were incandescent pockets here and there, if you were an investor, and specifically if you invested in special purpose acquisition companies (more commonly known as SPACs). And SPACs, hot in 2020, are, well, still hot. As to where SPACs go from here is anyone’s guess. billion in gross proceeds. V to file an IPO.

Finance 94

Finance 94

PYMNTS

DECEMBER 17, 2020

BarkBox appears to be in line to go public via a merger with a special purpose acquisition company or SPAC for short. And another SPAC comes to market. And so the question looms as to whether the special purpose acquisition company (SPAC) will be the backdoor entry to the public markets. billion in 2019.

Sports 81

Sports Retail Sales 81

PYMNTS

DECEMBER 27, 2020

And digging down a bit, special purpose acquisition companies (or SPACs) were certainly in the spotlight and were enthusiastically received in the US. As estimated by SPAC Research , 248 SPACs went public in 2020, raising $81 billion. Earlier in the month, the U.S.

New York 108

New York Legal Gaming Tax 108

PYMNTS

DECEMBER 18, 2020

and special purpose acquisition company (SPAC) FinServ Acquisition Corp. In terms of the mechanics, special purpose acquisition companies (SPACs) function as shell companies that bring in funds from investors and then go looking to buy and take a private company public. Katapult Holding, Inc. said on Friday (Dec.

New York 128

New York Sales Technology 128

Withum

FEBRUARY 1, 2023

Based on the definition of a covered corporation, §4501 could apply to domestic-incorporated special purpose acquisition companies (SPACs). SPACs generally refer to a shell company listed on a stock exchange with the purpose of acquiring a private company and, therefore, making it public without going through the traditional IPO process.

Tax 76

Tax tax return CPA Legal 76

PYMNTS

DECEMBER 20, 2020

21) will file documents with securities regulators to allow a special purpose acquisition company (SPAC) it created previously to raise as much as $600 million through an initial public offering (IPO), Axios reported. Moreover, Axios reported, Softbank is moving toward creating additional SPACs. Softbank on Monday (Dec.

Sales 86

Sales 86

ThomsonReuters

AUGUST 2, 2021

This blog post looks at special purpose acquisition companies (SPACs)—shell companies created for raising capital to buy an existing, privately held firm and take it public more quickly than would be possible by going the traditional initial public offering (IPO) route, and examines the SEC’s growing focus on their filings. SPACs 101 .

accounting and finance 52

accounting and finance Finance accounting standards Account 52

Going Concern

JUNE 30, 2023

.” SEC SEC Continues to Focus on SPAC Market [ JD Supra ] In recent years, the U.S. The post Friday Footnotes: Big 4 CEO Hype Songs; Tim Ryan Does Sit-Ups For Breakfast; SEC on SPAC | 6.30.23 Full Spotify playlist of the Milken hype songs here. appeared first on Going Concern.

audit 103

audit accounting firms Real Estate New Jersey 103

PYMNTS

DECEMBER 7, 2020

One of 2020’s highest high-flyers has been the special purpose acquisition corporation, or SPAC. It might be hard in the midst of roaring markets and headlines trumpeting Dow 30,000 to remember that one of 2020’s highest high-flyers has been the special purpose acquisition corporation, or SPAC. The ABCs of SPACs.

New York 64

New York Finance Retail 64

PYMNTS

OCTOBER 1, 2020

Hims , a direct-to-consumer (D2C) company selling health products targeted at millennials, is going public via a special purpose acquisition company (SPAC), CNBC reported. The SPAC will be sponsored by investment management firm Oaktree Capital Management. Mental health and urgent care offerings have also been added recently.

Healthcare 64

Healthcare Start-ups 64

PYMNTS

JANUARY 7, 2021

Social Capital Hedosophia is one of three special-purpose acquisition companies (SPACs) on the lookout for investment opportunities. Noto — formerly an investment banker with Goldman Sachs — has expressed wanting to go public via a SPAC. The deal would give SoFi a post-money valuation in excess of $8.65

accounting and finance 73

accounting and finance management accounting management accounts Finance 73

PYMNTS

SEPTEMBER 15, 2020

The vehicle is a partnership between veteran investors Chamath Palihapitiya and Ian Osborne , who have created three special-purpose acquisition companies (SPACs) in the past. The SPACs have been setting their sights on "unicorn" companies, meaning firms valued at more than $1 billion, PYMNTS writes.

New York 60

New York Technology 60

Going Concern

FEBRUARY 21, 2024

The Public Company Accounting Oversight Board (PCAOB) announced today it sanctioned WithumSmith+Brown for violations of PCAOB rules and quality control standards related to those goddamn SPACs to the tune of $2 million. Only the warm fuzzy feeling that comes from making audit partners’ lives worse than they already are.

audit 110

audit auditor Account accountant 110

Going Concern

APRIL 11, 2024

These are the top ten audit firms with the most SEC registrant clients if you include special purpose acquisition companies (SPACs). And then they called out Withum specifically: Withum, a firm notable for auditing numerous SPACs, continued to slide in the rankings in terms of SEC registrant clients. This is a 4.9

auditor 90

auditor audit Account accountant 90

PYMNTS

NOVEMBER 30, 2020

Backers of the special purpose acquisition company, or SPAC, include Matthieu Pigasse, who leads Centerview Partners’ Paris office, and supermarket chain owner Moez-Alexandre Zouari. The new SPAC, known as 2MX Organic, is seeking a valuation of up to two billion euros and will be traded on the Paris stock exchange.

Government 62

Government Retail 62

PYMNTS

JANUARY 20, 2021

The new SPAC, called Tastemaker , received $276 million via IPO on Jan. And while Tastemaker has already achieved its initial goal, it’s not the SPAC that’s important. SPAC Strategy. For Pforzheimer, the choice to orient toward a SPAC grew out of the sale of his last business a few years back to a strategic investor.

Real Estate 79

Real Estate Technology Start-ups Education 79

ThomsonReuters

JUNE 15, 2021

Use of Special purpose acquisition (SPAC) vehicles have spiked over the past year because private equity and venture capital firms have excess cash they need to put to work, accounting practitioners said mid-June. Attorneys caution the rush to go public via a SPAC vehicle, termed “De-SPACing,” comes with substantial risk. “It

Account 64

Account accountant accounted auditor 64

PYMNTS

OCTOBER 9, 2020

Despite wide-ranging economic uncertainties and a challenging investment environment, venture capital (VC) firms and special purpose acquisition companies (SPACs) are actively raising or seeking fresh funds for investment in the payments space. The SPAC Attack. Some of the latest fundings include: Greycroft.

Real Estate 78

Real Estate Technology California Education 78

PYMNTS

SEPTEMBER 16, 2020

investor Ian Osborne are co-founders of the blank-check company or special purpose acquisition company (SPAC), one of the many they run. SPACs like Palihapitiya's Social Capital have become popular in recent years. Palihapitiya and U.K. Now, they are buying into the property group with $82.8

Real Estate 69

Real Estate Healthcare 69

Going Concern

SEPTEMBER 12, 2023

The SEC previously charged Marcum for these quality control deficiencies and other violations, many of which were in connection with Marcum’s audit work for hundreds of special purpose acquisition companies (SPACs). The SEC order has specifics: In 2020 and 2021, over 860 SPACs completed initial public offerings (“IPOs”) in the United States.

audit 112

audit public accounting auditor Management Consulting 112

PYMNTS

OCTOBER 23, 2020

To that end, as reported this week, DPCM Capital became only one of the latest special purpose acquisition companies (SPACs) to go public — continuing a “hot” trend that shows no signs of abating. This time around, the figures at the helm of the SPAC are well-known. And here, we may see the vagaries of SPACs come into play.

Technology 63

Technology Legal Retail 63

PYMNTS

AUGUST 28, 2020

The Specs on SPACs – And Why Blank-Check Firms Get Backing. SPACs,’ or ‘special purpose acquisition companies,’ have suddenly become the hottest thing in investing, raising money to buy a privately held firm that wants to go public without all of the paperwork. Are SPACs the wave of the future?

Retail 83

Retail Pharmaceutical Technology Transportation 83

Accounting Today

FEBRUARY 21, 2024

The Public Company Accounting Oversight Board levied a $2 million fine against WithumSmith+Brown for violating quality control rules.

audit 112

audit Account accountant accounted 112

PYMNTS

SEPTEMBER 2, 2020

This kind of transaction, known as a special purpose acquisition company, or SPAC , has been gaining traction as of late. Mobile game platform Skillz is looking to go public, and a partnership with Flying Eagle Acquisition Corp. could help it do so, according to a company blog post.

Gaming 87

Gaming Entertainment 87

PYMNTS

OCTOBER 7, 2020

is the latest newly-formed special purpose acquisition company, or SPAC, seeking a ripe investment, the Nation’s Restaurant News reported. Tastemaker Acquisition Corp.

Entertainment 82

Entertainment Washington New York 82

CPA Practice

APRIL 22, 2024

Withum: 113 (1.7%) Keep in mind that those client counts include special-purpose acquisition companies (SPACs), 303 of which were registered with the SEC. The emergence of SPACs over the past few years has influenced audit market share for firms like Marcum and Withum, which focus heavily on auditing newly formed SPACs, Audit Analytics noted.

audit 69

audit auditor accounting firms Account 69

PYMNTS

DECEMBER 18, 2020

BarkBox To Go Public Via SPAC At $1.6 a special purpose acquisition company (SPAC), in a $1.6-billion Bridgetown SPAC Considering $10 Billion Indonesian Tokopedia Deal. Bridgetown Holdings, the special purpose acquisition company (SPAC) , is reportedly mulling a deal with Tokopedia , the Indonesian online shopping company.

Maine 67

Maine Government New York Start-ups 67

Going Concern

JUNE 29, 2022

Of those 84 IPOs in Q2, 54 went public via a special-purpose acquisition company (SPAC). In Q1 of 2021, there were 298 SPACs, so are the SEC’s threats of tighter regulation starting to scare SPAC wannabes ? For example, 1,046 companies went public last year —612 via SPAC, 427 via traditional IPO, and seven via direct listing.

audit 101

audit auditor New York financial statements 101

PYMNTS

JANUARY 8, 2021

is a special purpose acquisition company (SPAC) “formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses,” according to the announcement. The transaction is anticipated to close on Jan. Acamar Partners Acquisition Corp.

Retail 80

Retail Sales 80

Going Concern

JANUARY 19, 2024

The ghost of SPAC past continues to haunt Marcum, this time it’s administrative and cease-and-desist proceedings against assurance partner Edward Hackert, a 20-year veteran of the firm who’s been a partner since 2006.

audit 92

audit 92

CPA Practice

AUGUST 9, 2023

billion, while six special purpose acquisition company (SPAC) IPOs raised total proceeds of $980 million, according to Audit Analytics. Only three accounting firms audited the six SPAC IPOs completed during Q2. UHY led the market share, auditing three SPAC IPOs during the quarter. billion) 2022 : 46 ($5.3 Kenvue Inc.,

audit 98

audit cpas accounting firms Account 98