SPACs

Special Purpose Acquisition Companies

The Path to Market

WE ARE THE WORLD’S LEADING SPAC PROCESSOR

SPAC IPO and post IPO are particular areas of our expertise.

Continental’s unique proprietary platforms oversee SPAC trust assets and for the stages of business combination/redemptions. As the industry-leading SPAC processor since 1990, we have handled over 90% of U.S. SPACs brought to market over the past 20 years, with a total value of over $65 billion of raised funds. Likewise, we have overseen all aspects of over 200 SPAC business combinations. It is for these reasons that Continental is recognized as the gold standard in the oversight and administration of SPACs.

LEARN ABOUT OUR SPAC SERVICES

THE PATH TO MARKET

Continental has been handling SPACs for 30 years. We have acted as transfer agent & trustee for over 500 IPOs. In 2019, we handled 51 transactions totaling $11.9 billion. In 2020, we have handled 200 SPAC administration transactions. Our new clients value our expertise and attention to every detail.

Read below for a road map of how it all works.

WHAT IS A SPAC?

SPACs or “BLANK CHECK COMPANIES”

are public corporations newly formed by sponsors specifically for the purpose of raising capital in an initial public offering (IPO), and using the proceeds to make a business combination by acquiring one or more targeted private companies.

WHO IS INVOLVED?

The sponsors of the SPAC select a team of lawyers and underwriting banks, accountants, a transfer agent for the securities, an asset manager, and a trustee like CSTT to hold and manage the IPO funds.

WHAT IS THE PROCESS?

The SPAC will sell “units” in the IPO and will be separable into the share and warrant post- IPO.

Funds that were placed in the trust account at the IPO closing are moved to the asset management bank, which will then be invested in accordance with the SPAC’s directions.

Since the advent of the modern SPAC in 2003, SPACs have grown in popularity from being a specialty niche market to a global, multi-billion dollar vehicle.

BENEFITS OF WORKING WITH CONTINENTAL

OUR EXPERTISE & ACCESSIBILITY

  • Appointed by 95% of SPACs in 2020
  • Unparalleled access to the most experienced asset managers focused on SPACs

OUR INNOVATION & PROPRIETARY

  • Proprietary redemption process affords unparalleled access and response capabilities relative to redeeming holders
  • Proprietary process for tracking deal extension related activities

LEARN MORE ABOUT THE BREADTH OF OUR EXPERTISE:

Click on one of the quick links below to discover the services and experience we offer.

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Connect with Francis Wolf or Mark Zimkind