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Michael Wolfson Quoted in the Financial Times on Retail Participation in SPAC Deals
03.10.21
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Corporate Partner Michael Wolfson was quoted in a Financial Times article titled, “Retail investor apathy threatens to derail Spac deals.” According to the article, retail investors account for approximately 40% of all trading in special acquisition companies (SPACs). As individual investors may not be as well versed in the shareholder voting process, the growing retail presence can inadvertently cause shareholder voting issues in connection with SPAC acquisitions. Michael noted that while the rise in retail investor participation might increase the cost of soliciting proxies and delay stockholder meetings, “The incentive for Spac stockholders to vote for a transaction remain.”
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