“As markets obtained powerful final 12 months, offers took longer to get completed and SPACs began nearing the top of their lives,” mentioned Alan Annex, co-chair of regulation agency Greenberg Traurig’s world company apply. “The requirement within the constitution, designed to guard the shareholders’ cash, says you’ll be able to’t lengthen the lifetime of the SPAC with out providing individuals the choice to get their a refund on the time you supply that extension.”
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