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From a societal perspective, the year 2020 has heralded many changes in the way we communicate, in the way we interact, and, more generally, in the way we build relationships. From a commercial perspective, the year 2020 has heralded (or at lease resurrected) a change in the mechanism by which many earlier stage enterprises become publicly traded – the Special Purpose Acquisition Company (“SPAC”) IPO. The use of SPACs to backdoor an IPO has become so ubiquitous as of late that Marketwatch has touted 2020 as the “year of the SPAC.” While there have been a number of SPACs focused on the traditional target industries of venture capitalists, there has emerged a trend toward a focus on targets involved in ESG sectors, specifically early stage enterprises who address the energy transition and most notably electric vehicles (“EV”) and e-mobility.

 

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