Washington partner Andrew Tucker recently closed two initial public offerings (IPOs) totaling more than $166 million for both Data Knights Acquisition Corp. (Data Knights)  and Bowman Consulting Group Ltd. (Bowman), as issuer’s counsel on the same day. Tucker and his deal team, Adam Marshall and Sydney Hamer, closed the Data Knights deal, a newly formed special purpose acquisition company (SPAC). Kaylen Loflin and Tucker closed the Bowman deal. Bowman is a Reston, Virginia based engineering services firm.  A few days prior, the two closed another issuer side IPO for a digital out-of-home advertising company based in Miami, Fla. and have priced a fourth, this time as underwriter counsel for an e-commerce retailer based in Texas.

SPACs exist to buy private companies and effectively take them public while avoiding the pitfalls of a traditional IPO. They became popular last summer as the stock market recovered from an early pandemic downturn. Nelson Mullins serves as counsel for both issuers and underwriters in many SPAC deals.

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