监管加码SPAC借壳上市要凉了？高盛要退出大多数SPAC业务

24
Comment
Favorite

监管加码SPAC借壳上市要凉了？高盛要退出大多数SPAC业务

华尔街见闻2022-05-10

面对美国政府的监管加码，华尔街巨头至少暂时要撤出去年还炙手可热的“特殊目的收购公司”（SPAC）借壳上市业务。美东时间5月9日周一，媒体援引知情者消息称，去年承销SPAC数量第二高的华尔街机构高盛已经告诉SPAC发起者，它将终止参与SPAC业务，而且从现在起暂停在美国的新SPAC上市发行。SPAC又称空白支票公司，本质是现金壳公司，其设立的唯一目的就是使用IPO所募集的资金收购一级市场优质标的。若...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

No comments yet

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/2234505841?lang=en_US&edition=fundamental","thumbnail":"https://static.tigerbbs.com/4b6684517506a0b0f4c4c5a1c4889261","is_english":false,"pubTime":"2022-05-10 07:33","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2234505841","market":"us","top_or_hot":-1,"title":"监管加码SPAC借壳上市要凉了？高盛要退出大多数SPAC业务","media":"华尔街见闻","content":"<div>\n<p>面对美国政府的监管加码，华尔街巨头至少暂时要撤出去年还炙手可热的“特殊目的收购公司”（SPAC）借壳上市业务。美东时间5月9日周一，媒体援引知情者消息称，去年承销SPAC数量第二高的华尔街机构高盛已经告诉SPAC发起者，它将终止参与SPAC业务，而且从现在起暂停在美国的新SPAC上市发行。SPAC又称空白支票公司，本质是现金壳公司，其设立的唯一目的就是使用IPO所募集的资金收购一级市场优质标的。若...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3658909\">Source Link</a>\n\n</div>\n","source":"wallstreetcn_api","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>监管加码SPAC借壳上市要凉了？高盛要退出大多数SPAC业务</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n监管加码SPAC借壳上市要凉了？高盛要退出大多数SPAC业务\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-10 07:33 北京时间&nbsp;&nbsp;&nbsp;<a href=https://wallstreetcn.com/articles/3658909><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>面对美国政府的监管加码，华尔街巨头至少暂时要撤出去年还炙手可热的“特殊目的收购公司”（SPAC）借壳上市业务。美东时间5月9日周一，媒体援引知情者消息称，去年承销SPAC数量第二高的华尔街机构高盛已经告诉SPAC发起者，它将终止参与SPAC业务，而且从现在起暂停在美国的新SPAC上市发行。SPAC又称空白支票公司，本质是现金壳公司，其设立的唯一目的就是使用IPO所募集的资金收购一级市场优质标的。若...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3658909\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://wallstreetcn.com/articles/3658909","article_id":"2234505841","we_media_id":null,"thumbnails":["https://static.tigerbbs.com/4b6684517506a0b0f4c4c5a1c4889261"],"rights":{"source":"wallstreetcn_api","url":"https://wallstreetcn.com/articles/3658909","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2234505841","pubTimestamp":1652139224,"sourceInfo":{"source_id":"wallstreetcn_api","name":"华尔街见闻"},"weMediaInfo":null,"summary":"今年3月末美国证监会发布的新规草案将SPAC首次发行的承销商视为后续交易的承销商，扩大了承销商的责任范围。上月就有消息称，一些承销商已暂停美国新SPAC的IPO，包括高盛的劲敌花旗。","collect":0,"end_time":0,"defaultTopTitle":"wallstreetcn.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{},"translate_title":"Is it going to be cold for SPAC backdoor listing with overweight supervision? Goldman Sachs to Exit Most SPAC Business","themeId":"","isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/7e61a3bc4277781968cf0264186958c8","symbols_score_info":{"GGPI":1,"GS":1},"content_text":"面对美国政府的监管加码，华尔街巨头至少暂时要撤出去年还炙手可热的“特殊目的收购公司”（SPAC）借壳上市业务。美东时间5月9日周一，媒体援引知情者消息称，去年承销SPAC数量第二高的华尔街机构高盛已经告诉SPAC发起者，它将终止参与SPAC业务，而且从现在起暂停在美国的新SPAC上市发行。SPAC又称空白支票公司，本质是现金壳公司，其设立的唯一目的就是使用IPO所募集的资金收购一级市场优质标的。若SPAC在上市后的12-24个月内能找到合适的标的并完成并购交易、所谓de-SPAC交易，则发起人与投资人有望获利颇丰。否则，SPAC要么需要获得股东批准延长该期限，要么就得清算并将托管账户内的资金全部返还SPAC股东。2020年，各国央行“大放水”造成资本市场流动性充裕、二级市场较一级市场溢价抬升等现象后，SPAC迅速从金融世界的“一潭死水”变得炙手可热。去年，SPAC筹集的资金首次超过了传统IPO。本周一消息人士称，如果上市公司已经非常接近完成de-SPAC流程，高盛将继续担任SPAC的顾问完成交易，可能未来在极少数情况下还会继续为小部分SPAC客户做顾问，其他的客户就得找新的顾问了。以上消息意味着，高盛将不再为大多数进行并购、即de-SPAC交易前的SPAC提供任何服务。媒体认为，美国证监会（SEC）发布的新指引让SPAC承销商面临更大的责任风险，促使高盛采取了这样的行动，令高盛怀疑SPAC能否还像过去那样“吸金”。高盛的一名发言人此后表示，我们将减少参与SPAC业务，作为对监管环境改变的回应。在今年3月末SEC提出针对SPAC的重磅新规草案后，高盛会有这样的决策不算意外。华尔街见闻文章曾介绍，SEC上述新规旨在加强SAPC的信息披露水平，规定在满足特定条件的情况下，SPAC首次发行的承销商将被视为后续交易的承销商。新规还修改了SAPC定义，移除了一项重要的免责条款，SPAC业绩指引信披不再适用于免责条款。这就让认为SPAC过度吹嘘有关业绩的投资者更容易将其告上法庭索赔。在SEC发布SPAC新规计划后，上月就有媒体消息称，一些承销商已暂停美国新SPAC的IPO，直到他们更了解新规可能带来的法律风险为止，其中就包括去年承销SPAC数量第一位的花旗。法律界人士在新规草案出台后也发出警告。律所Sidley Austin LLP的律师认为，新规扩大承销商的责任范围，包括了de-SPAC交易，这可能让投行因为风险增加而改变操作。其指出，参与de-SPAC交易的投行通常不会进行像传统IPO那种程度的尽职调查。事实上，由于SPAC交易完成后回报不佳、监管审查更加严格以及几起引人注目的丑闻，今年投资者对SPAC的热情已明显减退。据Renaissance Capital统计，去年初共有604只美国SPAC发行，累计募资1440亿美元。而今年前三个月，SAPC只筹集了98亿美元，还有600多家SPAC在寻求交易。","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":24,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}