Despite the challenges posed by COVID-19, 2020 saw an eruption of IPOs by special purpose acquisition companies (SPACs), used to raise nearly $79 billion from investors. The Wall Street Journal reports that the trend is continuing in 2021, already averaging five new SPACs each business day. A surge in related litigation has already begun, and it can be expected to grow and become a feature of SPAC deals throughout 2021....By: McGuireWoods LLP
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On Feb. 1, 2021, the Federal Trade Commission (FTC) announced it is publishing revised reporting thresholds for premerger filings under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act). For the first time in a decade, the filing thresholds declined....By: McGuireWoods LLP
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NovaQuest Private Equity has announced it has acquired CoreRx. CoreRx, based in Clearwater, Fla., is a contract development and manufacturing organization that serves small to mid-sized pharmaceutical and biotech organizations....By: McGuireWoods LLP
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Frazier Healthcare Partners has acquired a 50% stake in CSafe Global from Thomas H. Lee Partners (THL), according to a news release. CSafe Global, based in Dayton, Ohio, is a provider of cold chain shipping solutions to global pharmaceutical and life sciences companies....By: McGuireWoods LLP
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Evolution Capital Partners has acquired Health Technologies, according to a news release. Health Technologies, based in St. Louis, Mo., is a provider of consulting dietitians, menus and food-service software to long-term care communities, small acute care hospitals and other companies....By: McGuireWoods LLP
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Locked-box pricing mechanisms in private merger and acquisition deals have been popular in recent years. The mechanism, in short, involves the buyer and seller agreeing on a fixed purchase price at the start of the transaction, based primarily on the last audited accounts of the target entity, and the forms of financial leakage since the date of such accounts that are reimbursable to the buyer....By: McGuireWoods LLP
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Investment funds may face enhanced premerger reporting requirements under a new rule jointly proposed by the Federal Trade Commission (FTC) and the Antitrust Division of the Department of Justice (DOJ). Published Dec. 1, 2020, the notice proposes two important changes to premerger reporting requirements under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act and implementing regulations....By: McGuireWoods LLP
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H.I.G. Capital has announced it will acquire St. Croix Hospice. St. Croix, based in Oakdale, Minn., is a provider of hospice services across the midwestern United States....By: McGuireWoods LLP
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Frazier Healthcare Partners has announced it has acquired Accuity Delivery Systems....By: McGuireWoods LLP
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Lion Equity Partners has announced its affiliate, Lion Equity Holdings II, has acquired T-Y Group and Harbor Linen (TY-Harbor) from Bed Bath & Beyond....By: McGuireWoods LLP
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