This week, the SPACInsider Podcast delves into some of the tax and accounting issues that SPAC teams should be considering as we approach both the Presidential election and the end of 2024.
Mark Deters and Ryan Bixenman, partners at WithumSmith+Brown, join us to help break it all down.
For example, what does it mean for SPACs searching overseas if Trump enacts a wide range of tariffs? What about the excise tax on SPAC redemptions if Kamala Harris wins and raises it to 4%? Will this result in increased SPAC liquidations before the end of 2024?
Mark and Ryan discuss these considerations and more as we approach the end of the tax year and what further changes might be in store.
Give it a listen.
Terms Tracker for the Week Ending November 1, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Once again, the past week was all about new issuance while the DeSPAC announcements remain quiet. To kick off November, two SPACs priced IPOs to...
October continued the recent trend of SPAC teams seeking additional extensions beyond their first one, as they work on closing their combinations with the remaining funds after redemptions. Meanwhile, new SPACs are launching IPOs and beginning their search processes, signaling a shift in the market. Extension Votes In October, there were 13 scheduled extension votes....
K&F Growth II (NASDAQ:KFIIU) has filed for a $250 million IPO with aggressive terms and a laser focus on hospitality and gaming targets. The SPAC comes to market with a 24-month initial search clock and a trust that is not overfunded. This makes it only the second of underwriter BTIG’s nine SPACs filed in 2024...
At the SPAC of Dawn During a day of Halloween parties, SPACs adopted a one in, one out policy with two fresh SPACs pricing their IPOs just as two others opted to exit the club via liquidation. Given that the two new SPACs, Bleichroeder I (NASDAQ:BACQU) and Newbury Street II (NASDAQ:NTWOU), will begin trading later...
Bleichroeder Acquisition Corp. I (Nasdaq: BACQU), announced the pricing of its $250 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “BACQU”, Friday, November 1, 2024. The new SPAC intends to focus their efforts on businesses in the technology, media and telecommunications (“TMT”) sector as well as sectors...