Specified Purpose Acquisition Companies, or SPACs, are companies formed to raise money in an initial public offering and to then use such funds to acquire an operating business in a business combination transaction. Graubard Miller is a founder of, and the leading expert on, SPAC financings. Managing Partner and head of our Corporate and Securities group, David Alan Miller, helped to create the SPAC in 1993. Since that time, there have been almost 200 successfully consummated SPAC IPOs.  Graubard Miller has represented either the issuer or the underwriter on 70 of those SPAC IPOs, more than double the total for any other law firm in the nation.  We have also been counsel in dozens of SPAC mergers across a wide breadth of industries in both the United States and abroad, including China. The simple fact is that Graubard Miller has handled more SPAC IPOs and SPAC business combinations than any other law firm in the world.