Special Purpose Acquisition Companies, otherwise known as SPACs or "blank check companies," have set a record-breaking year. SPACs are created through an initial public offering with the purpose of acquiring a private company and taking it public. Though these types of companies have been around since the 1990s, it wasn't until 2017 that one made it to the New York Stock Exchange, and they have surged in popularity since then. In the first half of 2020, 58% of IPOs were SPACs.

Atlanta partner Jeff Perry attributes this success to expedited timelines and reduced costs. "Overall, I think recent developments in the SPAC transaction marketplace are fantastic because it presents another avenue for companies to use to provide their shareholders with liquidity," Perry told the Atlanta Business Chronicle. Perry works on SPAC mergers as part of his practice in the areas of venture capital, corporate mergers and acquisitions, and securities law. 

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