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Blank-Cheque Company Craze That Has Taken Wall Street by Storm Spreads to Asia

Special-purpose acquisition companies nearing post-IPO deadlines eyeing Asian region for businesses to acquire

03 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 Mr Mitchell Presser, co-chair of Morrison & Foerster's global corporate department. "A lot of these SPACs will be looking at Asia for de-SPAC-ing opportunities."

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