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November 30, 2020
Cadwalader has been shortlisted by the Financial Times for its innovative work on the $4 billion initial public offering of Pershing Square Tontine Holdings, Ltd. (“PSTH”), a special purpose acquisition company (SPAC), in the “The practice of law - Finance: unlocking capital” category of the publication’s forthcoming FT Innovative Lawyers 2020 North America Awards and Report.
In July 2020, Cadwalader advised PSTH on its $4 billion initial public offering – the largest-ever IPO by a SPAC. Beyond its size, PSTH is innovative by other measures, including a number of unprecedented transaction terms designed to mitigate issues found in typical, more formulaic SPACs and to create a more “investor-friendly” structure.
The Cadwalader team advising PSTH is led by Corporate partners Stephen Fraidin and Greg Patti and includes associates Niral Shah and Erica Hogan; and Tax associate Matthew Seitz.
FT Innovative Lawyers is a unique program that assesses lawyers on their innovation for clients and in their own businesses. The program consists of rankings and awards, based on independent research from RSG Consulting and robust journalism from the FT. The 2020 results will be announced at a virtual awards event on December 10, 2020, and the rankings will be published in both print and online as an FT special report.