Over the past year, Alan I. Annex, co-chair of Greenberg Traurig, P.A.’s Global Corporate Practice and Israel Practice member, has led numerous multi-disciplinary teams of attorneys assisting clients involved in more than $25 billion in Special Purpose Acquisition Company (SPAC) transactions, both nationally and internationally. These transactions, which include both Initial Public Offerings (IPOs) and business combinations, show no signs of slowing in 2021.
Among the SPAC transactions Annex handled in 2020 was the recently completed $1.4 billion business combination between Israeli public company ARKO Holdings, which is the controlling owner of GPM, the seventh-largest convenience store chain in the U.S., and Haymaker Acquisition Corp. II, a publicly traded SPAC. Led by Annex, Greenberg Traurig’s team represented ARKO in the transaction. Shares of ARKO common stock and ARKO warrants will trade on the Nasdaq Stock Market under the symbols “ARKO” and “ARKOW”.
“We are pleased to continually assist SPACs in their formation, IPO, and business combinations – as well as SPAC target companies in business combinations – to achieve the goals that are often critical to their success,” said Annex, a Miami office-based Greenberg Traurig shareholder, who is an architect of the structure of the early 1990s SPAC and is internationally recognized for providing legal counsel on SPAC transactions.
“In 2021, we expect to see continued opportunities for SPAC deals that include a M&A component or to finance acquisitions,” Annex said, referring also to matters currently in the pipeline involving Israeli companies. “With more than 150 SPACs looking for deals, we expect to see more creative ways of utilizing the SPAC as a vehicle to help facilitate a transaction.”
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