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BDOs Spotlight on SPACsAuthor: BDO USA
BDOs Spotlight on SPACs podcast series serves as a forum for regular insights into one of the hottest trends in the capital market space. Joined by an exciting guestlist, tune in to hear our hosts from BDOs National SPAC Practice share their experiences and a wealth of knowledge around the rapidly evolving world of Special Purpose Acquisition Companies. Language: en-us Genres: Business, Entrepreneurship, Investing Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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The SPAC Litigation Environment: Recent Trends and D&O Insurance Implications
Episode 5
Thursday, 30 June, 2022
Andrew J. Pendergast is a Managing Director and SPAC & general partnership liability (GPL) Practice Leader of the Merger & Acquisition Risk Solutions group, at NFP. NFP provides tailored insurance solutions for SPAC clients, making certain that directors’ and officers’ personal assets, the SPAC entity’s balance sheet and the target business are all adequately covered against loss.Key Takeaways:Andrew summarizes what directors and officers (D&O) insurance is and how it applies to SPACs today. [2:19]The frequency of securities class action claims brought against SPACs has increased over the past 18-24 months. Andrew shares additional insights from NFP’s historical analysis of securities lawsuits. [4:30]The SEC’s anticipated new rules aiming to increase investor protection for SPAC transactions will have broader implications in the litigation environment. [11:00]Target companies need to understand their securities liabilities pre-close. Andrew provides an overview of what this involves. [16:21]Andrew outlines how and why to get creative when structuring a D&O insurance policy. [20:40]Andrew reveals when the best time is to engage an insurance broker in the SPAC transaction process. [24:05]Additional Resources:BDO Knows SPACsNFP’s Special Purpose Acquisition Company (SPAC) practiceBDO’s Accounting & Reporting Advisory ServicesMichael Stevenson’s bio
