DealLawyers.com Blog

ICYMI, last week, Bloomberg reported that Goldman is back in the SPAC market. After being the second-largest underwriter of SPAC IPOs in 2021, the firm made the decision in 2022 not to work with SPACs anymore — through a self-imposed ban on underwriting SPAC IPOs or working on de-SPAC transactions — apparently deeming it too risky across the board.

It’s returning to assessing SPAC transactions on a case-by-case basis, although it may also limit the sponsors the firm decides to work with. All in all, this seems like a good sign for the SPAC market. But I also worry this means Goldman doesn’t expect the “IPO slump” to end anytime soon.

– Meredith Ervine