Loeb & Loeb has been ranked in Bloomberg Law’s list of the top 10 Big Law firms and boutiques that represented blank-check companies in their 2021 IPOs. Specifically, Loeb is noted for advising SPAC issuers on $4.3 billion worth of deals.
In total, blank-check companies raised more than $160 billion last year, a record in the SPAC market.
According to Bloomberg Law, lawyers who advise blank-check companies cite regulatory scrutiny and poor trading performance of newly listed SPACs as reasons the market will cool in 2022. The SPAC IPO market has already dwindled from the heights it reached in the first quarter of 2021, when more than 300 deals were completed — surpassing the entire previous year’s activity, Bloomberg data show.
Still, the pace of SPAC IPOs ticked higher toward the end of last year. With more than 60 priced each month from October to December, the market is still well ahead of where it was before the 2020 boom.
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