A transposição das Special Purpose Acquisition Companies (SPACs) à luz do ordenamento jurídico brasileiro
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TCC
Date
2022-12
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Authors
Zoccoli, João Pedro Saccomano
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Rovai, Armando Luiz
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Abstract
As SPACs, amplamente difundidas nos EUA e ainda pouco conhecidas no Brasil, são
companhias não operacionais que se valem de recursos captados via IPO para realizar
uma operação de combinação de negócios com uma empresa operacional, de modo a
viabilizar a entrada desta última no mercado de capitais. Sendo assim, as SPACs têm
como premissa, como uma alternativa ao processo tradicional de abertura de capital,
catalisar o mercado de capitais, adotando uma estrutura societária complexa. O presente
artigo tem como âmago, portanto, defender a robustez do ordenamento jurídico brasileiro
em transportar a estrutura societária das SPACs, bem como apresentar as principais
alternativas societárias para permitir que os princípios e conceitos sólidos estadunidenses
das SPACs sejam transpostos ao Brasil sob o pretexto de fomentar companhias de
captação de investimento.
The SPACs, widely spread in the US and still poorly known in Brazil, are blank-check companies that raise funds through an IPO to carry out a business combination transaction with an operational company, enabling the latter to make its debut in the capital markets. Therefore, SPACs have as an assumption the catalyzation of the capital markets as an alternative to the traditional IPO process while adopting a complex corporate structure. This paper aims, therefore, to advocate on the strength of the Brazilian legal framework in transporting the corporate structure of SPACs, as well as to introduce the main corporate alternatives to allow the strong U.S. principles and concepts of SPACs to be transported to Brazil acting as a vehicle to promote companhias de captação de investimento.
The SPACs, widely spread in the US and still poorly known in Brazil, are blank-check companies that raise funds through an IPO to carry out a business combination transaction with an operational company, enabling the latter to make its debut in the capital markets. Therefore, SPACs have as an assumption the catalyzation of the capital markets as an alternative to the traditional IPO process while adopting a complex corporate structure. This paper aims, therefore, to advocate on the strength of the Brazilian legal framework in transporting the corporate structure of SPACs, as well as to introduce the main corporate alternatives to allow the strong U.S. principles and concepts of SPACs to be transported to Brazil acting as a vehicle to promote companhias de captação de investimento.
Description
Indicado a inovação e empreendedorismo
Keywords
SPAC , transposição , Brasil , transposition , Brazil