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SPAC Spending Spree Moves to Asia as Funds Seek Out New Targets

Bloomberg News

01 Feb 2021

About 300 SPACs are under pressure to de-SPAC – merge with their target companies – this year according to law firm Morrison & Foerster, or face the danger of being disbanded, given the 24-month time limit.

“If 2020 was the year of the SPAC, 2021 is the year of the de-SPAC,” said Mitchell Presser, co-chair of Morrison & Foerster’s global corporate department. “A lot of these SPACs will be looking at Asia for de-SPACing opportunities.”

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