As part of our market update series, please see the summary below of what we saw in the convertible market in Q4 2021. New Issuance. Q4 2021 saw 27 new issue convertible deals (all debt) with a total volume of $18.1bn, which brought total 2021 issuance to $92.8bn across 155 deals. 2021 was the ... >>>Read More
Post-SPAC Warrant Redemption Features (Part 3)
This is the third of a series of posts examining the redemption features of warrants in post-SPAC public companies. In the first post, we described typical redemption features in warrants. The second post discussed how issuers might economically analyze whether and when to redeem the warrants. ... >>>Read More
Q3 2021 Convertible Market Review
As part of our market update series, please see the summary below of what we saw in the convertible market in Q3 2021. New Issuance. Q3 2021 saw 23 new issue convertible deals (22 debt & 1 mandatory) with dollar volumes of $15.0bn, compared to $17.0bn across 30 deals from Q2 2021 and $19.9bn ... >>>Read More
Post-SPAC Warrant Redemption Features (Part 2)
This is the second of a three-part series of posts examining the redemption features of warrants in post-SPAC public companies. In the first post, we described typical redemption features in warrants. Here we introduce economic frameworks for how issuers can approach the decision whether and when ... >>>Read More
Post-SPAC Warrant Redemption Features (Part 1)
This is the first of a three-part series of posts examining the redemption features of SPAC warrants: here, we describe the typical redemption features found in SPAC warrants. In subsequent posts we will examine (1) how to approach the decision whether and when to redeem warrants and (2) what ... >>>Read More
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