SPAC to the Future: Law Firms Are Riding the Wave as Interest Explodes

March 25, 2021

The American Lawyer speaks with Cadwalader Corporate Partners Stephen Fraidin and Gregory P. Patti, Jr., on the team’s work guiding the unprecedented structure of Pershing Square Tontine Holdings (PSTH,) while sharing their broader insights into a year (2020) dubbed by many as “The Year of the SPAC.”

In the article, The American Lawyer spotlights Steve as an “M&A legend” with “decades of dealmaking experience” who has “enter[ed] the SPAC world with a splash.” While he acknowledges his role as the advisor responsible for documenting the novel transaction structure and presenting it to the U.S. Securities and Exchange Commission “in a way that made sense,” Steve highlights the privilege of working with “a client as great as Bill [Ackman] who comes up with these terrific ideas.”

Greg Patti also discusses the driving forces behind the boom in SPACs, saying “Right now, one of the imperatives is that the market is open, it’s hot, and no one knows how long it will stay hot, so people want to move quickly right now to access the capital markets.”

Read the full article here.

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