2017 SPAC IPO Legal League Tables
Below we have compiled and released our 2017 League Tables
Let’s drill down on the 2017 SPAC IPO Legal League results…
As you can see, the top three law firms providing legal counsel to Special Purpose Acquisition companies (by volume) are Weil, Gotshal & Manges, Ellenoff Grossman & Schole (“EGS”), and Skadden, Arps, Slate, Meagher & Flom (“Skadden”), accounting for nearly 50% of the market share.
If we look a little more closely, you will notice that EGS is the favored Issuer’s Counsel, representing 11 companies, while Skadden and, Graubard Miller, are the favorites to represent the Underwriters, with 7 each.
Overall however, Weil Gotshal led in total volume, market share and average deal size at a whopping $556 million. If you’re going to go big…looks like Weil Gotshal is the preferred pick.
Click for Q1 2018 Legal League Table
Please note that you can sort the table by clicking on the arrow keys located in each column. We will be posting our Q1-2018 results shortly.
| Rank | Law Firm | Volume ($mm) | Deal Count (Total) | Deal Count (Issuer's Counsel) | Deal Count (UW's Counsel) | Avg. Size ($mm) | Market Share (%) |
|---|---|---|---|---|---|---|---|
| 1 | Weil, Gotshal & Manges LLP | 3,892.0 | 7 | 5 | 2 | 556.0 | 19.7 |
| 2 | Ellenoff Grossman & Schole LLP | 2,763.9 | 13 | 11 | 2 | 212.6 | 14.0 |
| 3 | Skadden, Arps, Slate, Meagher & Flom LLP | 2,475.4 | 8 | 1 | 7 | 309.4 | 12.5 |
| 4 | Vinson & Elkins LLP | 1,932.0 | 3 | 2 | 1 | 644.0 | 9.8 |
| 5 | Graubard Miller | 1,746.7 | 9 | 2 | 7 | 194.1 | 8.8 |
| 6 | Freshfields Bruckhaus Deringer US LLP | 1,675.0 | 4 | 0 | 4 | 418.8 | 8.5 |
| 7 | Greenberg Traurig, LLP | 799.0 | 4 | 1 | 3 | 199.8 | 4.0 |
| 8 | Shearman & Sterling LLP | 690.0 | 1 | 0 | 1 | 690.0 | 3.5 |
| 9 | Winston & Strawn LLP | 607.3 | 2 | 1 | 1 | 303.7 | 3.1 |
| 10 | Loeb & Loeb LLP | 531.8 | 4 | 2 | 2 | 133.0 | 2.7 |
| 11 | Akin Gump Strauss Hauer & Feld LLP | 460.0 | 1 | 0 | 1 | 460.0 | 2.3 |
| 12 | Ledgewood | 450.0 | 2 | 2 | 0 | 225.0 | 2.3 |
| 13 | Davis Polk & Wardwell LLP | 402.5 | 1 | 0 | 1 | 402.5 | 2.0 |
| 14 | Paul, Weiss, Rifkind, Wharton & Garrison LLP | 345.0 | 1 | 1 | 0 | 345.0 | 1.7 |
| 15 | Kirkland & Ellis LLP | 300.0 | 1 | 1 | 0 | 300.0 | 1.5 |
| 16 | Jones Day | 207.0 | 1 | 1 | 0 | 207.0 | 1.0 |
| 17 | Proskauer Rose LLP | 200.0 | 1 | 1 | 0 | 200.0 | 1.0 |
| 18 | Crowell & Moring LLP | 143.5 | 1 | 1 | 0 | 143.5 | 0.7 |
| 19 | Akerman LLP | 69.0 | 1 | 1 | 0 | 69.0 | 0.3 |
| 20 | Hunter Taubman Fischer & Li LLC | 60.4 | 1 | 1 | 0 | 60.4 | 0.3 |
| 21 | Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. | 44.3 | 1 | 0 | 1 | 44.3 | 0.2 |
Source: SPACInsider