May 11, 2023
Much has been written about when a business should go public and the considerations that inform that choice. Assuming the decision to go public has been made, second in importance to that determination is how a private company (PrivateCo) should go public. In this publication, the main elements of comparison are to be considered by a PrivateCo in evaluating going public by way of an IPO, SPAC, CPC or RTO. This guide contains additional detail on the advantages and disadvantages of, principal components of, and the process to implement going public by way of an IPO, SPAC, CPC and RTO.
Apr 03, 2023
The 2023 Canadian Federal Budget, released March 28, 2023, provides particulars on the proposed new two percent tax on share buybacks and expands the proposal to apply to repurchases of equity by certain trusts and partnerships. If enacted, the proposed tax will apply to buybacks that occur on or after January 1, 2024. Covered entities should consider how the proposed tax will affect ongoing or proposed normal-course issuer bids, substantial issuer bids, and other equity buybacks
Apr 03, 2023
SPAC IPO activity has declined but de-SPAC transactions have proven resilient. U.S.-listed SPACs are searching for targets internationally, creating opportunities for Canadian companies. Key considerations for de-SPACs include transaction structure, tax treatment and finding the right Canadian target. A Plan of Arrangement is a unique Canadian process that may be included in a cross-border de-SPAC.
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