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By: WoodruffSawyer Whether stemming from legacy contamination, pending regulatory scrutiny, or stakeholder pressure, these risks have the potential to derail deals, trigger shareholder litigation, and be the catalyst for breach of fiduciary duty suits against directors and officers.
By: WoodruffSawyer These insights are invaluable for businesses navigating complex transactions, providing a glimpse into prevailing trends and challenges shaping the M&A landscape.
By: WoodruffSawyer I was once again invited to speak at the event, which provided an opportunity to explore current challenges in the SPAC market and to gain insight into where the market is headed.
By: WoodruffSawyer On June 4, the Securities and Exchange Commission (SEC) issued a concept release seeking public comment on the definition of the term "foreign private issuer" (FPI). The request is in response to global market changes and other factors that are pushing the SEC to reconsider the term's meaning.
By: WoodruffSawyer But as dealmakers increasingly look to scale through smaller acquisitions—especially in private equity—traditional RWI has struggled to keep pace. The underwriting process, cost structure, and diligence expectations have historically made it impractical for deals under $50 million.
By: WoodruffSawyer With the highly charged election behind us and a new administration set to take office in 2025, businesses are shifting their focus to emerging concerns. Topics like tariffs, taxes, and the potential impact of upcoming policy changes on the economy and business landscape are now top of mind.
By: WoodruffSawyer As scrutiny around diversity, equity, and inclusion, or “DEI,” programs grows, boards are caught in the middle of legal exposure, governance, and risk management.
By: WoodruffSawyer In this week’s edition of the D&O Notebook, my colleague and securities litigator Walker Newell takes a close look at the new Texas Business Court, which is a key plank in the Lone Star State’s strategy.
By: WoodruffSawyer To gain some perspective on what may be ahead, I spoke with Doug Ellenoff, founder of the top law firm in the SPAC market, Ellenoff Grossman & Schole. Doug has been at the forefront of the SPAC market since its.
By: WoodruffSawyer It comes up in almost every conversation I have about SPACs and de-SPACs. My clients are asking: Should they incorporate in the Cayman Islands and then remain there after their business combination?
By: WoodruffSawyer Traditionally, this has been the main type of derivative suit that has resulted in large settlements. Merger and acquisition cases are common here. Examples of these types of suits include Paramount Global (CBS-Viacom merger) and Tesla (Solar City merger).
WoodruffSawyer is the market leader when it comes to placing D&O insurance for companies going public, be it through an IPO, direct listing, or merger with a SPAC (a “de-SPAC” transaction). By: WoodruffSawyer Experience matters in this arena. There is significant complexity to the.
By: WoodruffSawyer The SPAC market is chugging along with several IPOs and multiple deals being announced and closed. Although it's great to see this kind of activity again, the SPAC market is never without its challenges.
WoodruffSawyer is a market leader for. By: WoodruffSawyer However, with some smart preparation and the expertise of the right advisors, insurance can go from being a necessary burden to a strategic asset.
By: WoodruffSawyer Increased market competition has gradually tempered rate growth, and while hurricanes Helene and Milton were devastating, their insurance losses were lower than anticipated.
By: WoodruffSawyer How long will it really take to get the deal closed, now that target companies are not easy to come by and every deal seems to need an extension? How can the current litigation and.
By: WoodruffSawyer Given the relative rarity of these policies compared to their buy-side counterparts, we felt a refresher was in good order to highlight some differences and considerations.
By: WoodruffSawyer Here are highlights from my conversation with Jenn Calabrese and Alison Yablonowitz of Calabrese Consulting, a leading accounting and financial reporting services firm in the SPAC market.
By: WoodruffSawyer In the context of representations & warranties insurance (RWI), this change means that the interim period between a deal’s sign and close will likely also grow longer, requiring deal parties to negotiate for a longer interim breach coverage period in their RWI policies.
By: WoodruffSawyer One of the questions it pays to ask (and answer) early on is how that basket mechanism will function with the retention amount you will be negotiating into your representations and warranties insurance (RWI) policy.
By: WoodruffSawyer An oft-cited statistic is that 75% of venture-backed start-ups fail, a percentage that is probably both understated and fails to consider all the companies that never even raise a first round of venture capital funding.
By: WoodruffSawyer The hard and soft market cycles have caused participants’ D&O program limits and cost to yo-yo up and down, leaving many to long for a period of calm and stability.
By: WoodruffSawyer But today, the barbarians are at the gates. Will state corporate law power fracture into an Eastern empire in Wilmington and a Western empire in Austin or Sin City?
By: WoodruffSawyer According to EY’s Private Equity Pulse, Q2 2024 was the strongest quarter in two years, with 122 announced transactions at a valuation of $196 billion total enterprise value. But the US PE market is.
By: WoodruffSawyer RWI is a well-established tool in the merger and acquisition (M&A) toolbox for both private equity and strategic buyers. Broad coverage and competitive pricing have been the theme for 2024. RWI has been widely adopted.
By: WoodruffSawyer For the first SPAC Notebook of 2024, I was pleased to speak once again with Doug Ellenoff, the founder of Ellenoff Grossman & Schole and someone who has been at the forefront of the SPAC market since its inception. In addition to evaluating SPAC activity in 2023, we looked at what to expect for this year.
By: WoodruffSawyer To delve into this timely subject, we spoke with two industry leaders—Stuart Brown, an insolvency, restructuring, and bankruptcy partner of the global law firm DLA Piper, and Taylor Sherman, director in the Restructuring and Dispute Resolution Practice at CohnReznick, an advisory, assurance, and tax firm.
By: WoodruffSawyer Factors pushing new SPAC teams in that direction are the 1% excise tax being levied on SPAC redemptions and the negative SPAC environment the Delaware courts have created with their recent decisions.
By: WoodruffSawyer We’ll examine the two underlying insurance categories in this blog and their impact on the reps and warranties insurance that companies should purchase for their merger or acquisition.
Bennett and Heather Weaver of Lowenstein’s Insurance Recovery Group sit down with Yelena Dunaevsky, Senior Vice President, Transactional Insurance, at WoodruffSawyer to talk about the current state of SPAC related litigation and its impact on the insurance market. Today, Lynda A.
WoodruffSawyer is a market leader for. By: WoodruffSawyer However, with some smart preparation and the expertise of the right advisors, insurance can go from being a necessary burden to a strategic asset.
By: WoodruffSawyer From the dynamics of larger deals to the increasing prevalence of minority investments and earn-outs, the video sheds light on a diverse range of deals that have captured the attention of underwriters as well as the outlook for premium and retention rates.
By: WoodruffSawyer From mid-2020 through mid-2022, we saw a large uptick in the number of policies and limits bound, and so it stands to reason that the number of reps and warranties (R&W) claims received by insurers has increased in the past year.
By: WoodruffSawyer No seismic market shifts or mind-boggling legal decisions or theories took place in the last month, but to keep our readers updated, below are a few interesting developments that are worth tucking away into your SPAC subconscious and/or keeping an eye on.
By: WoodruffSawyer Through the first half of 2023, the themes of 2022 (reduced deal volume and more competition for private equity deals) continued to cause the deal landscape to be exceedingly tough.
By: WoodruffSawyer As we move further into 2024, we have a clearer perspective on where 2023 ended in the private equity and mergers and acquisitions (M&A) market. We predict more of the same throughout 2024, but there are bright signs for dealmaking this year.
By: WoodruffSawyer (formerly Square) acquired Jay-Z’s failing music-streaming company, TIDAL, in a deal that was conceptualized as the two businessmen summered in the Hamptons together.
WoodruffSawyer recently published its 2023 Guide to Representations & Warranties Insurance, which provides an overview of current market conditions, policy terms and considerations for potential purchasers of RWI.
By: WoodruffSawyer Given the current state of the market, deal flow is down and, therefore, so is the number of submissions getting sent to representations and warranties insurance (RWI) underwriters. Underwriters are poised to strike when the market picks back up again but, in the meantime, where does that leave us?
By: WoodruffSawyer My goal in attending this conference, aside from seeing all of my SPAC colleagues and friends and meeting new SPAC market participants, is to get a feel for current problems and speed bumps in the SPAC market and to get involved in discussions on how best to approach and solve those problems.
By: WoodruffSawyer GPs in particular use secondaries to offer liquidity to their legacy fund investors while holding on to promising portfolio companies that need more time to mature.
By: WoodruffSawyer The federal government offers two primary incentives for renewable energy projects: an investment tax credit for eligible investments in property, such as solar panels, and a production tax credit for electricity from renewable sources.
WoodruffSawyer recently issued its “Guide to Insuring Fund Liability Risks for Venture Capital and Private Equity Firms.” ” The publication provides an overview of the key coverages and claims scenarios.
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