Posts
January 06 2022
Tilman Fertitta Seeks a $250 Million Payday After Ditching SPAC Deal
Two years ago, the pandemic forced Tilman Fertitta to shutter his empire of casinos and restaurants, furlough 40,000 workers, and inject $50 million of his own money into his company. Now the Texas billionaire is using exuberant debt markets to pay himself back, and then some.
www.bloomberg.com
January 06 2022
Buyer Beware As Athlete-Backed SPACs Take A -70% ‘L’
Things look very grim for SPACs spearheaded by some of your favorite athletes, as these special acquisition blank check companies tied to notable sports figures have been severely trailing the S&P 500. Shaquille O’Neal, Colin Kaepernick, Jay-Z, Serena Williams, Alex Rodriquez and Steph Curry have all recently gotten into the SPAC game without much success. Specifically, 21 out of 33 SPACs tied to famous public figures have posted negative returns for 2021, according to Bloomberg.
www.forbes.com
January 05 2022
Will SPACs Cool Off in 2022? Alternatives to Consider
SPACs, or special purpose acquisition companies, are companies with no commercial operations and form an alternative path to an initial public offering (IPO). They are created strictly to raise capital through an IPO to acquire an existing company. Also called a blank-check company, a SPAC is a shell company that raises money and trades on a stock exchange.
www.entrepreneur.com
January 04 2022
Still No 2022 SPAC Deal Announcements
It was another light day for SPAC news and no deal announcements for trading day 2 of 2022. The lack of deals certainly isn’t due to a lack of SPACs looking for therm — there are just about 575 SPACs actively search at this point. As we’ve discussed before, the deal announcement and close rate will have to pick up significantly in 2022 for the market to smoothly clear out the oversupply.
www.thestreet.com
December 30 2021
Client Alert: New York & New Jersey Minimum Wage Increases For 2022
With 2022 upon us, many New York and New Jersey employers must prepare for scheduled minimum wage increases. Please note the following new minimum wage, tip credit and overtime rates.
Click here to read the alert.
December 29 2021
Client Alert: CDC Updates COVID-19 Quarantine Guidelines
The Centers for Disease Control and Prevention (CDC) issued new guidance updating the isolation and quarantine period for all individuals, regardless of vaccination status, both after testing positive for COVID-19 and after being in close contact with someone who tested positive for COVID-19 (“CDC Revised Quarantine Guidance”). The previous standards and new rules are set out in the alert below.
Click here to read the alert.
December 29 2021
Client Alert: New Paid Time Off for NYC Employees – COVID-19 Child Vaccination Leave
New York City now requires employers to provide up to four (4) hours of paid time off to employees who need to take their child to get vaccinated against COVID-19 (“COVID-19 Child Vaccination Leave”).
Click here to read the alert.
December 29 2021
ROAR’s Meet The Candidate
Please join Tom Suozzi, Democratic NYS Gubernatorial Candidate in Conversation with ROAR’s Executive Committee and ROAR Counsel Amanda Fugazy.
Click here to register.