EisnerAmper on May 24 announced it launched a new group focused on servicing special purpose acquisition companies (SPACs).
New York-based EisnerAmper, which has a major presence in New Jersey, stated that its new team will be 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.
Investors and sponsors form SPACs with specific sector expertise in order to raise public capital and pursue future acquisitions. 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 Director Nina Kelleher, who is based in New York, was named the designated SPAC team leader.
“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,” said EisnerAmper Vice Chair of Industries & Markets Jay Weinstein.i