Powered by LawFuel – NEW YORK – Reed Smith today announced the addition of Ari Edelman, a leading transactional lawyer with a wealth of experience representing special purpose acquisition companies (SPACs), underwriters and placement agents in IPOs and de-SPAC acquisitions. Ari joins the firm’s Global Corporate Group as a partner in New York.
“Ari’s SPAC experience will enhance our already strong capabilities in the capital markets space, where demand for SPACs is growing rapidly,” said James Tandler, Chair of Reed Smith’s U.S. Corporate Group. “Through his extensive work in SPACs, Ari has developed a strong network of strategic relationships these transactions require to be successful, including regulators, investment banks and placement agents.”
Edelman was formerly a partner at Ellenoff Grossman & Schole LLP. There, he played a significant role in growing that firm’s SPAC practice since 2014, representing issuers and investment banks in about 50 SPAC IPOs with an aggregate market value of approximately $10 billion, and SPACs and placement agents in about 10 de-SPAC transactions. He has represented public and private companies, investment banks and investors in other equity and debt securities offerings and M&A transactions, and advised clients on general corporate matters.
“Reed Smith represents a huge opportunity for me to integrate my SPAC proficiency into a firm with strong, longstanding relationships within the sectors in which SPAC sponsors are most interested and active, including healthcare, technology and financial services,” Edelman said. “The firm’s global platform also provides access to many private equity and venture capital firms, and their portfolio companies, likely to be future SPAC targets or sponsors. Reed Smith’s corporate group, which is supported by a wide range of practices across the globe, puts the firm in a very strong position to successfully meet any SPAC’s needs.”
SPACs have recently gained prominence as a result of the weakening viability of traditional IPOs in the wake of the COVID-19 pandemic and the resulting economic ambiguity. Characterized as a “blank-check” vehicle, a SPAC is a non-operational business formed solely to raise funds through an IPO to acquire another company. Investors in SPACs range from large private equity funds to members of the general public. SPACs have raised more than $30 billion so far this year, versus $13 billion in all in 2019.
Edelman is a 2005 graduate of Fordham University School of Law. Earlier in his career, he was an associate in the New York offices of Kramer Levin and Troutman Sanders.
“In addition to his substantive SPAC knowledge, Ari has a perspective on business development and strategic growth that fits very well with the culture of this office,” said Cindy Schmitt Minniti, Managing Partner of Reed Smith’s New York office. “The demand for SPAC knowledge is significant; we are getting calls regularly from our clients seeking this particular knowledge, and we are pleased to be adding him to our corporate group.”
Reed Smith’s Global Corporate Group handles all aspects of corporate and commercial law and spans the firm’s 30 offices. The firm recently added a significant number of corporate partners, including Ashok W. Mukhey and Mitchell S. Cohen in the firm’s Century City, Calif. office.
About Reed Smith
Reed Smith is a dynamic international law firm dedicated to helping clients move their businesses forward. Our belief is that by delivering smarter and more creative legal services, we will not only enrich our clients’ experiences with us, but also support them in achieving their business goals.
Our long-standing relationships, international outlook, and collaborative structure make us the go-to partner for the speedy resolution of complex disputes, transactions, and regulatory matters.
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