It Was Only a Matter of Time: SPAC Meets Business Divorce | Farrell Fritz, P.C.
Section 7.02(b) did not survive the dissolution of Forum Capital; Section 7.02(b) was intended to prohibit a member or manager “from participating in another SPAC without the other parties’ permission because doing so while the current deal was ongoing could have harmed the [FMC I] SPAC”; “Once the [FMC I] SPAC was successfully completed and Forum Capital wound up, Section 7.02(b) became moot”; Vogel’s interpretation of Section 7.02(b) is “absurd and unenforceable as a matter of p...
Source: jdsupra.com