![]() Resources for the De-SPAC Transitionīetween the due diligence phase and the SEC reporting requirements, there is a lot of documentation within a de-SPAC transition. ![]() If this occurs, parties have the option to renegotiate the terms of the deal or terminate the agreement. Then, they will hold the vote and conclude the transaction by filing the 8-K form and changing the SPAC's name to the name of the company that was acquired. Two days before the vote, the company will tally the redemption requests (which is where SPAC shareholders get to redeem their stock). They also finalize everything with the SEC. As the deal moves to a close, companies typically keep an eye on large shareholders with the help of underwriters. In the final phase, the business will undertake a formal road show process to introduce themselves to potential investors and generate interest. If the business needs to go back and forth with the SEC to resolve comments, the process could take several months. The SEC can take as long as 30 days to release their comments. While most de-SPAC transitions are fairly swift, there may be instances when they take longer. The final phase of the SPAC process lasts two weeks on average thus, the entire process can be complete within eight to ten weeks, if everything moves quickly and there are no delays. This intermediate phase takes a couple of weeks at this time, the company will also develop a marketing plan to ensure success of the deal. The company will need to set a date for the vote and mail flyers to all shareholders at least three weeks in advance. The business will need to retain a proxy solicitor to handle the shareholder vote that is required for de-SPAC transitions. This phase can take anywhere from one week to one month to complete.įollowing this filing, the SEC will review the documentation presented and may ask for comments from the company.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |