“We changed and tinkered with a lot of the features to improve in the program and eliminate some of the regulatory tension that the SEC didn’t like, and other features that business people thought were causing problems.”
Celtic Asset & Equity Partners is in permanent exchange with the parties involved in the market in order to contribute their experiences and assessments to an optimization of a SPAC right from the beginning.
A Special Purpose Acquisition Company is a newly formed corporation formed by a prominent and qualified management team for the purpose of raising capital in an initial public offering in anticipation of identifying and completing a business combination.
The corporation is usually incorporated in Delaware, the Cayman Islands or the British Virgin Islands, but any jurisdiction is suitable.
Preparing the IPO is a task where a reliable and vivid communication has to be orchestered between the involved parties.
The underwriter introduces the SPAC and its managment team to institutional investors during a roadshow prior to an IPO. During the Initial Public Offering, the SPAC will raise money and then place the raised funds in a trust account. Most management teams have little or no experience with the details about going public with a company, especially not with a Special-Purpose Acquisition Company. We recommend leading advisors and servicing companies in the SPAC segment of an IPO as well as adding our experience. Further, we secure the communication between all involved parties.
For many recently retired Chief Executives, leading a SPAC offers the optimal combination of opportunity and activity. The large majority of former public company CEOs are not interested in jumping back into a similarly all-consuming leadership role.
They have been there, done that, and most have taken enough chips off the table to be choosy. But most CEOs want to stay active in business and are eager to pursue interesting opportunities.
We bring deep, functional expertise, but Celtic is known for its holistic perspective:
We capture values across borders and between all persons and companies involved.
Rather than going into business for itself, each SPAC seeks to make an acquisition of an existing business. Over the past few years, the “Special Purpose Acquisition Corporation” has reemerged as a popular acquisition vehicle.