Skadden Discusses De-SPACed Companies Seeking Chapter 11 Protection

The CLS Blue Sky Blog

Shana A. Elberg Christopher M. Dressel

Partner Shana Elberg and associate Christopher Dressel discuss recent challenges for de-SPACed companies and how a number of businesses that went public by merging with SPACs have had difficulty raising additional capital, with some choosing to seek Chapter 11 protection to restructure their debt and preserve themselves as going concerns.