Since late 2019, when the special purpose acquisition corporation, or SPAC, returned to the public markets with a new twist, a circus of activity has breathed new life into the markets for privately-held emerging growth companies, forcing open a large window for public exits not seen in decades. In this “SPAC 2.0 boom,” sponsors of SPAC vehicles first raised large pools of blind capital in the public markets and then struck deals to buy emerging growth companies for ~10x the cash raised plus rollover equity and a second pile of cash in the form of a PIPE.

What is a…


This article was written by Louis Lehot, a business and technology lawyer at Foley & Lardner LLP in Silicon Valley.

The Transform Technology Summits start October 13th with Low-Code/No Code: Enabling Enterprise Agility. Register now!

Initially coined in 1992 by Neal Stephenson, the term “ metaverse” comes from his sci-fi novel, Snow Crash, in which humans interact with each other via avatars rendered in three-dimensional virtual space.

As Matthew Ball, the former head of content at Amazon, stated, “The metaverse is a persistent, synchronous and live universe that spans both the digital and physical worlds with total inclusion.” It is described as a digital shared space where everyone can interact seamlessly in a fully immersive, simulated experience. It is the…


Louis Lehot is an emerging growth company, venture capital, and M&A lawyer at Foley & Lardner in Silicon Valley.

Louis Lehot
Louis Lehot

Louis Lehot, a corporate and technology law partner with leading global law firm Foley & Lardner LLP in Silicon Valley, recently visited with a delegation of Belarussian human rights activists, including Mrs. Sviatlana Tsikhanouskaya, who ran in the 2020 Belarussian presidential election as the main opposition candidate. The group, which also included leading academics, entrepreneurs, investors, and thought leaders, convened in Silicon Valley to explore ways to create vibrant economic growth fueled by clusters of technology innovation.

In a wide-ranging and thorough conversation, the participants discussed the importance of academic freedom in universities, freedom of expression, the rule of law…


By Louis Lehot, business and technology lawyer at Foley & Lardner LLP in Silicon Valley

The Bitcoin rollercoaster has brought a lot of attention to cryptocurrencies over the past year, but you still can’t pay your taxes with them. Aside from some state-level moves to accept cryptocurrencies, taxes must still be paid in the U.S. dollar. And yet, as more businesses go through their own digital transformations, many have been wondering when the economy will experience its own digital paradigm shift.

The idea of a digital dollar is not new. Digital currencies have been discussed for decades, and some even argue that the dollar is already digital. There is merit in that characterization. Most of…


New team members, new deals, news from the Global Silicon Valley

Friends,

Welcome back. As always, the tech world is constantly moving, constantly changing. Today, I have highlights from rocketry rivalry to how AI and smartphones can transform healthcare. There are lots of exciting things happening.

But first, some news at home…

Welcome André Thiollier and Ashley Youn-Jae Lee

Foley & Lardner welcomes André Thiollier, who joins the firm as a partner in Silicon Valley, bringing significant cross-border experience to the firm and to our team. André primarily

represents Latin American companies, both early-stage and late-stage, and private equity funds in countries including Brazil, Mexico and Chile that are looking to…


By Louis Lehot, a Business Lawyer & Partner at Foley & Lardner LLP

Quantum computing is a perennially hot topic in science and technology, with many researchers and companies scrambling to build the first truly practical quantum computer. But as with many technological advancements, the complex jargon can easily obscure the big picture. In cybersecurity, the quantum arms races consists of three fronts: quantum computers, post-quantum cryptography, and human users. With help from our friends at Aimava, we will explore these topics at a digital summit with leading thought leaders, corporations and investors on the future of quantum computing in July.

Quantum computing offers the possibility of solving problems that conventional computers cannot…


Louis Lehot, partner with Foley & Lardner, was recently quoted in The Information in an article entitled, “SPAC Boom Helps Tech Founders Cement Control.” The article examines how mergers with special purpose acquisition companies can be an option that allows tech founders to maintain a greater level of control.

Originally Published here.


Photo by All Bong on Unsplash

By Louis Lehot, a business lawyer at Foley & Lardner LLP in San Francisco and Silicon Valley

Special-purpose acquisition companies (SPACs), organizations that raise funds in the public markets for the purpose of acquiring a private company and taking it public, had their heyday during the COVID-19 pandemic. In 2020, 248 companies went public through mergers with SPACs, exceeding the number of such deals in the past ten years combined, according to SPAC Data.

While the craze continued through the first quarter of 2021, issuance ground to a stunning halt in April. SPAC Research reports a nearly 90 percent drop…


By | Louis Lehot | Business lawyer

Special-purpose acquisition companies (SPACs), organizations that raise funds in the public markets for the purpose of acquiring a private company and taking it public, had their heyday during the COVID-19 pandemic. In 2020, 248 companies went public through mergers with SPACs, exceeding the number of such deals in the past ten years combined, according to SPAC Data.

While the craze continued through the first quarter of 2021, issuance ground to a stunning halt in April. SPAC Research reports a nearly 90 percent drop in SPAC merger filings from March 2021 to April 2021. The overall market value of SPAC mergers…


Louis Lehot is a partner and business lawyer with, Foley & Lardner LLP, based in the firm’s Silicon Valley, San Francisco, and Los Angeles offices, where he is a member of the Private Equity & Venture Capital, M&A and Transactions Practices, and the Technology, Health Care, and Energy Industry Teams. Louis focuses his practice on advising entrepreneurs and their management teams, investors, and financial advisors at all stages of growth, from garage to global. Louis especially enjoys being able to help his clients achieve hyper-growth, go public, and successfully obtain optimal liquidity events. …

Louis Lehot

Louis Lehot is a partner and business lawyer with Foley & Lardner LLP, based in the firm’s Silicon Valley office. Follow on Twitter @lehotlouis

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