Cayman surpasses Delaware in special purpose acquisition company formations
Cayman has eclipsed the US state of Delaware for formations of special entities set up to take over other companies, with US$11 billion worth of deals worked on last year, figures have shown.
Financial research site PitchBook logged a total of 63 special purpose acquisition companies (SPACs) formed in 2024 – 62 of them in Cayman and just one in Delaware.
Natalie Bell, a partner in the Cayman office of international law firm Ogier, said that the number of the special publicly traded companies, and ‘de-spacs’ – a company merger transaction involving a special purpose acquisition company, a buying entity and a target private business – had increased in Cayman because of legal changes in the US. For a more complete summary of the story, please see the below link:
Published on: Aug 07, 2025 01:38 PM