Canadian SPACs Ride The Lightning – Summer 2015

The Canadian capital markets are abuzz with optimism around the development and proliferation of the SPAC program in 2015.  On June 22, 2015, the TSX hosted an information session on the SPAC program with panels on the Canadian experience to date contrasted with the US SPAC experience. The programme included a discussion with representatives of each of Dundee Acquisition Ltd. ("Dundee") and Infor Acquisition Corp. ("Infor"), the first two successfully listed SPACs on the TSX. In addition to technical interpretation and perspective as further detailed below, the participants made strong indications that the SPAC market in Canada is healthy and growing with the expectation that larger SPACs will be well received by the market in the coming months.