SPAC Raises Funds 100 Times Larger Than the Entire Tokyo Stock Exchange
What is a SPAC? Evo Acquisition, a blank check company targeting the tech and financial industry, on February 9th raised approximately $109 million. Following the surge of IPOs by other black check companies, Evo Acquisition plans to list on the Nasdaq under the symbol of EVOJU. Evo Acquisition is a special purpose acquisition company (SPAC), …
A Look Behind the Scenes of a U.S. SPAC Listing, Explained Using the Largest Deal of 2020
Introduction Regarding SPACs, a topic on which our firm receives inquiries almost weekly, we will use the case of QuantumScape Corporation, said to be the largest SPAC deal of 2020, to explain how they are specifically formed and what requirements and procedures are necessary. QuantumScape was originally a solid-state battery developer founded in 2010 by …
Background of SEC Registration Following Sawai Pharmaceutical’s Holding Company Transition
Please note that the original article is in Japanese. The following is a summary of its content. A Domestic Reorganization Triggers SEC Registration On April 1, 2021, Sawai Pharmaceutical Co., Ltd. established Sawai Group Holdings Co., Ltd. (Sawai GHD) as its new parent company via a stock transfer. The business driver for this move was …