The recently-enacted Inflation Reduction Act introduced a 1% excise tax on stock buybacks beginning in 2023, and in the absence of guidance from the Treasury Department, it is unclear whether the tax applies to SPAC share redemptions. More and more SPACs are...read more
The IPO market stayed active this past week with seven IPOs raising $1.9 billion. One company withdrew ahead of its expected pricing, specialty insurer The Fortegra Group (FRF). SPAC activity picked up slightly, with three blank check IPOs...read more
ION Acquisition 3, the third blank check company formed by ION Asset Management targeting an Israeli tech business, raised $220 million by offering 22 million shares at $10. The company did not offer units with warrants attached. Funds managed by Third...read more
ION Acquisition 3, the third blank check company formed by ION Asset Management targeting an Israeli tech business, filed on Tuesday with the SEC to raise up to $250 million in an initial public offering. The Herzliya, Israel-based company plans to raise...read more
A growing list of SPACs plan to liquidate early to avoid a possible 1% excise tax in 2023
The recently-enacted Inflation Reduction Act introduced a 1% excise tax on stock buybacks beginning in 2023, and in the absence of guidance from the Treasury Department, it is unclear whether the tax applies to SPAC share redemptions. More and more SPACs are...read more
US IPO Weekly Recap: UFC owner Endeavor Group leads a 7 IPO week
The IPO market stayed active this past week with seven IPOs raising $1.9 billion. One company withdrew ahead of its expected pricing, specialty insurer The Fortegra Group (FRF). SPAC activity picked up slightly, with three blank check IPOs...read more
Israel-focused SPAC ION Acquisition 3 prices downsized $220 million IPO
ION Acquisition 3, the third blank check company formed by ION Asset Management targeting an Israeli tech business, raised $220 million by offering 22 million shares at $10. The company did not offer units with warrants attached. Funds managed by Third...read more
Israel-focused SPAC ION Acquisition 3 files for a $250 million IPO
ION Acquisition 3, the third blank check company formed by ION Asset Management targeting an Israeli tech business, filed on Tuesday with the SEC to raise up to $250 million in an initial public offering. The Herzliya, Israel-based company plans to raise...read more