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In the first three months of 2021, there have been approximately
300 initial public offerings (IPOs) of special
purpose acquisition companies (SPACs) that have raised $100
billion, which are significant increases over the record number of
transactions and amounts raised in all of 2020. Inevitably, the
growth in SPAC deal activity has attracted scrutiny from market
regulators, including the US Securities and Exchange Commission
(SEC) and Financial Industry Regulatory Authority (FINRA), as well
as private plaintiffs. We expect this will continue and perhaps
increase, particularly if retail investors get involved in SPAC
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