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Europe Paves the Way for SPACs

06 July 2021 Articles

Europe aims to become a SPACs player but according to PitchBook data, from January to May, 293 SPACs have been made public in Wall Street while in Europe there have been only 17. Regulatory changes regarding shareholders' access and fees' structure are expected in various markets in UK and Europe to reach the same annual level of SPACs as the US.

This is what emerges from this article published in La Informacion, where Kevin Kelly, Managing Director and Head of SPAC Services at Morrow Sodali, comments that the absence of more SPACs in Europe is not due to lack of interest.

"The demand for this kind of investment is growing outside the US due to their increased costs. We are responding to many requests from investors who feel they are missing out on this phenomenon," says Kelly.

Borja Miranda, Managing Director at Morrow Sodali, explains that "even if the process of creating more favorable regulatory environments for SPACs is already well advanced, it may require some modifications to address cultural differences." 

"Beyond the differences, European markets would need a "big, notable and successful" SPAC as a "catalyst for rapid market growth" in these companies. Until now, the existing ones are smaller and have failed to attract much attention," concludes Kelly.

Read the full article here (in Spanish).

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