Morgan Joseph held its Inaugural SPAC Conference Wednesday, April 23, 2008 at the Pierre Hotel in New York. More than 500 attendees participated in the Conference including SPAC management teams, private equity professionals, hedge funds and other money managers as well as attorneys and other service providers.
“Our goal was to present a well rounded program featuring knowledgeable professionals active in the SPAC market to review the evolution of the SPAC product and discuss issues affecting the market today,” said John Sorte, President and Chief Executive Officer.
Panel topics included a discussion of the drivers behind a successful SPAC acquisition, opportunities and issues associated with investing in SPACs, a review of market conditions, legal and regulatory developments, Asian focused SPACs and alternatives to issuing a SPAC, among others.
Tina Pappas, a Managing Director at Morgan Joseph said, “The strong turnout at the Conference underscores that despite the current challenges in the equity markets, investors and SPAC sponsors alike continue to show interest in the development of the market.”
Notable speakers and panelists included Lou Holtz, legendary football coach and sports analyst, Larry Kudlow, economist and television commentator, Richard Heckmann, Chairman and CEO of Heckmann Corporation, and Martin Franklin, Chairman of Liberty Acquisition Corporation.
Morgan Joseph reported that since 2003, 156 special acquisition vehicles have raised $21.5 billion in gross proceeds, and that thus far this year SPAC registrations have represented approximately 48% of all IPOs. In addition, 50 have consummated acquisitions having an aggregate transaction value exceeding $14.6 billion.
Morgan Joseph has managed 20 SPAC IPOs since 2005, including acting as lead manager on 14 of them, and ranks Number One among full-service investment banks in advising SPACs successfully through the entire SPAC life cycle culminating with a completed acquisition.
About Morgan Joseph
Morgan Joseph & Co. Inc., a full service investment bank, provides financial advisory and capital raising services including M&A and restructuring advice, and equity and debt private placements and public offerings. In addition, Morgan Joseph provides research and trading for institutional clients. Morgan Joseph’s staff of more than 150 includes over 70 investment bankers, who are highly experienced professionals mostly from major Wall Street firms and intimately familiar with the issues facing middle market companies.
Contacts:
Tina Pappas, 212-218-3725
or
Media:
Anreder
and Company
Steven S. Anreder, 212-532-3232
steven.anreder@anreder.com
