SPAC Due Diligence: What Matters and Why

Initial public offerings (IPOs) involving special purpose acquisition companies (SPACs) have been enjoying a spate of attention as of late. Although they have existed for decades, SPACs were not always seen by Wall Street as attracting high quality deals. However, times are changing as big names have gone public through SPACs and 2020 has turned out to be a banner year for SPAC IPOs. As SPACs continue to gain investor attention, background due diligence on the operational company as well as the SPAC management team remains as, if not more, important than ever to gain intelligence about potential risks.

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