Kerkeni, Youssef (A.A. 2020/2021) The rise of special purpose acquisition vehicles: why are blank check companies becoming an attractive alternative to IPO’s and to what extent is this trend related to the pandemic? Tesi di Laurea in Structured finance, Luiss Guido Carli, relatore Riccardo Bruno, pp. 72. [Master's Degree Thesis]

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Abstract/Index

Background and overview. Different alternatives to go public. Initial public offering. Direct listing. Reverse merger. Special purpose acquisition companies. More on spacs. Definition. Characteristics of SPACs. Trust account, redemption and liquidation rights. Warrants. Trading price. SPACs and PIPE. What do SPACs offer to investors. Shareholder control. Further incentives, warrants and rights. The sponsors. Who are the sponsors. Management incentives. Leaders sponsor warrants, waivers and lock-up. What makes SPACs attractive to companies seeking to go public. Faster execution than an IPO. Upfront price discovery. Possibility of raising additional capital. Lower cost. Access to operational expertise. Attractive for smaller companies. SPACs in different markets. The European market. The Italian market. The Asian market. Performance analysis. Empirical study. Case studies. To what extent is current trend driven by the pandemic? Un uncertainty in the market. Failed IPO’s. SPACs and innovation. Deals that led the way. The promise of a similar growth. High risk for a higher return.

References

Bibliografia: pp. 68-72.

Thesis Type:	Master's Degree Thesis
Institution:	Luiss Guido Carli
Degree Program:	Master's Degree Programs > Master's Degree program in Corporate Finance, English language (LM-77)
Chair:	Structured finance
Thesis Supervisor:	Bruno, Riccardo
Thesis Co-Supervisor:	Torrisi, Alfio
Academic Year:	2020/2021
Session:	Summer
Deposited by:	Alessandro Perfetti
Date Deposited:	07 Dec 2021 14:48
Last Modified:	07 Dec 2021 14:48
URI:	https://tesi.luiss.it/id/eprint/30894

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