Okaty Quoted in Pacific Coast Business Times Discussing SPACs

Partner Mike Okaty was quoted in Pacific Coast Business Times discussing the difference between a typical IPO and a SPAC IPO in an article titled, “Santa Barbara County cannabis company to go public in $567M merger.”

Okaty told Pacific Coast Business Times, “You generally gain quicker access to the public markets at generally higher valuations and without some of the restraints that you have in a typical IPO.” He added, “If you do an IPO, you have your IPO day and if it’s a down day in the market, the price can go down, versus a SPAC which goes public when it wants, does the transaction to acquire the operating business more or less when it wants.”