HSE Securities and Capital Markets Newsletter – Spring 2021

Editor’s Message 

McClean Alex 2011 038 HSE 319WebReady

There is change in the air and it is not just the warmer weather some of us are experiencing right now. With vaccination rates climbing and infection rates dropping we are all starting to see the light at the end of COVID-19 tunnel. We know many of our clients are considering return to work plans and we stand ready to help you navigate the legal issues associated with implementing these plans.

Change is also in the air at the Securities and Exchange Commission (“SEC”), as incoming Chairman Gary Gensler is expected to be formally confirmed by the Senate in April. We expect a much more active SEC under Chairman Gensler, which has been evidenced by the SEC’s efforts to improve climate-related and ESG disclosure in the midst of proxy season as my colleague, Margaret Rhoda, shares in the Legal Insights section of this newsletter. One other change of note during the first quarter of 2021 was the continued strong performance of the capital markets. In particular, the market for Special Purpose Acquisition Companies, or SPACs, exploded during the first quarter, raising more capital in the first three months of 2021 alone than in 2020, and shows no signs of slowing. One of incoming Chairman Gensler’s first remarks during his confirmation hearings was to express his desire for greater scrutiny of SPAC offerings. My colleague Christopher Murillo includes an article on SPACs in this newsletter for the uninitiated.

One thing that hasn’t changed is that we remain busy advising and guiding our clients through the changing legal and business environment. Whatever this spring throws at us, we will be standing by your side helping guide you through the ever-changing landscape.

Alex McClean
Practice Group Leader, Securities and Capital Markets Group

Upcoming Event

Accessing Capital Markets Webinar Series
Session III – June 9, 2021

The third session of our Accessing Capital Markets Webinar Series, Corporate Governance Considerations When Raising Capitalwill focus on the factors to consider when raising capital. We again will team up with Deloitte, Kei Advisors, and Maxim Group to discuss corporate governance considerations and common pitfalls to avoid when raising capital in the public or private markets.   

More details and registration information to follow. We hope you will join us!

In the News

As leaders in the legal and business communities, our attorneys regularly provide thought leadership to inform the public on a variety of relevant topics. Over the past quarter our Securities and Capital Markets team was featured in media outlets and at events listed below:

Press Releases

Event Recap
Accessing Capital Markets Webinar – Session II 
In March, we hosted the second session in our Accessing Capital Markets Webinar series with Deloitte, Kei Advisors, and Maxim Group where we discussed best practices in investor relations, ideas to attract new investors, and ways to build good relationships with current investors. Listen to a recording of the webinar by clicking here.

Featured Article

There’s a SPAC for that…
by C. Christopher Murillo

Special Purpose Acquisition Companies, or SPACs, have become an increasingly popular investment option. If you’re a basketball fan (Steph Curry, NASDAQ: DUNE) or tennis fan (Serena Williams, NYSE:SPFR), there’s a SPAC for you.  So too if you’re a business, man (Jay-Z, OTCMKTS:SBVRF).  There’s even a Shaq SPAC (NYSE:FRX). This article describes SPACs, explains how they are different, and why they are so hot right now. Please click here to view.

Legal Insights

We regularly provide insight on a range of important securities and regulatory developments through our LEGALcurrents. Below are links to some of our recent articles.

As the implications of COVID-19 continue to evolve, we remain committed to providing insight from across the firm to help you respond to any legal and business issues that may arise during these uncertain times. The firm continues to enhance our COVID-19 web page with the latest information on a variety of legal topics, including enforcement actions, federal aid programs, labor and employment, healthcare, tax, legislative news, immigration, privacy and data security, and more

Cryptocurrency Corner

Gensler’s SEC: Breaking Out the Crystal Ball to Make Some Crypto Regulatory Predictions

Many are speculating what the change in presidential administrations may bring for the crypto space. In particular, the imminent installment of Gary Gensler as SEC chairman has captured the attention of many, as, to date, the SEC has been one of the most active regulators in the space.  Not to be left out of the discussion, this article looks at how Gary Gensler’s SEC might approach the crypto space. Please click here to view.

HSE Views

Regulation A+
Is a Reg A+ offering the right choice for you? This article explores the pros and cons and some of the issues to consider before structuring this type of offering. Please click here to view.  


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Attorney Advertising. Prior results do not guarantee a similar outcome. This publication is provided as a service to clients and friends of Harter Secrest & Emery LLP. It is intended for general information purposes only and should not be considered as legal advice. The contents are neither an exhaustive discussion nor do they purport to cover all developments in the area. The reader should consult with legal counsel to determine how applicable laws relate to specific situations. ©2021 Harter Secrest & Emery LLP