Gil Ottensoser to Join BTIG as Head of SPAC Program
A press release today announced that BTIG has hired Gil Ottensoser, to lead their SPAC Banking and Capital Markets effort, signaling a major push into the Special Purpose Acquisition Company field by BTIG.
Gil has a long history with SPACs and is a well-known name within the SPAC banking community. The firm he founded back in 2002, Legend Merchant Group, was one of the more prolific SPAC underwriters, having lead, co-managed or participated in the selling group of over 80 SPACs during the 2003-2008 era. In fact, Legend could arguably be called one of the original firms that got the SPAC ball rolling. In 2007, Legend was bought by Deutsche Bank to increase their presence within the then-burgeoning SPAC sector and Gil became Head of SPAC Sales and Distribution, where he assisted in the origination of new SPAC issuances, overseeing $3 billion in SPAC transactions in the short time before the Financial Crisis.
This is a huge signal that BTIG wants entry into the SPAC game. Gil, being one of the “O.G.s”, brings a vast amount of SPAC knowledge and history and I’m excited to see what he brings to the table going forward.
You can be sure to see BTIG’s name a lot more in the SPAC space in the coming months.
At the SPAC of Dawn As a rough week in the market comes to a close, at least one de-SPAC has some cause to show off. Many fashion brands were among the hard hit in recent days and not simply for macro reasons. Luis Vuitton-owner LVMH (PA:MC) dropped this week after an earnings miss led...
Shepherd Ave Capital Acquisition Corp. (Nasdaq: SPHAU) is the latest SPAC to file to IPO, making 24 new registration statements that have filed since June 1, 2024. So far, only two of those 24 have gone public, but it does indicate an active August. In SPACLand at least, August is never slow. As for Shepherd...
At the SPAC of Dawn SPACs have now priced 20 IPOs seven months into 2024 with an eye on beating 2023’s total of 31 IPOs. With a little more than 5 months left in the year, it’s expected that SPACs should at least match that number by only needing to price roughly two IPOs per...
DT Cloud Star announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “DTSQU”, Thursday, July 25, 2024. The new SPAC aims to combine with an established business with long-term financial visibility, but has not limited itself to a particular industry or sector....
Launch Two (NASDAQ:LPBBU) has filed for a $200 million IPO that shows how the market has shifted for new issuance since its sister SPAC Launch One (NASDAQ:LPAAU) filed just over a month ago. Both SPACs are underwritten by Cantor Fitzgerald and seeking nominally the same raise at IPO, but Launch Two is overfunding its trust...