EisnerAmper launched a new group focused on servicing special purpose acquisition companies (“SPACs”).

A SPAC is an entity formed by investors or sponsors with specific sector expertise in order to raise public capital and pursue future acquisitions. It is specifically created to buy an existing private company after the IPO process. With increased regulations and sponsor activity, SPACs face a variety of challenges including SEC reporting requirements, implementation of new standards, diligence and integration issues, technical accounting needs, financial statement audit and internal control compliance.
 
EisnerAmper’s SPAC team is comprised of experts in the areas of outsourced support services, cloud accounting, technical accounting, tax planning and consulting, transaction advisory, compensation planning, and other advisory services for SPACs and their target companies. The group will offer integrated services critical at every stage of the SPAC life cycle including (1) SPAC formation and IPO; (2) SPAC operations prior to target merger; (3) de-SPAC; and (4) post-merger.

“Due to the complex nature of SPACs, you need a dynamic team of experts in risk management, formation, valuation and the accounting aspects of becoming a public entity,” said Nina Kelleher, EisnerAmper Director and SPAC Team Leader. “Our specialists are committed to helping companies through the entire process to reach their SPAC goals.”
 
“This is an exciting opportunity for the firm and yet another way that we can grow our practice while providing innovative solutions clients are asking for,” added Jay Weinstein, EisnerAmper Vice-Chair of Industries & Markets.