Case Study
How two SPACs used social media marketing to drive retail shareholder proxy participation and reach quorum in only a few weeks.
How two SPACs used social media marketing to drive retail shareholder proxy participation and reach quorum in only a few weeks.
When it comes to proxy vote solicitation, Special Purpose Acquisition Companies (SPACs) face unique challenges. Unlike traditional corporations, for which proxy voting is a routine, annual activity, SPAC proposals are typically very high pressure and time sensitive. For de-SPAC proposals, especially, the stakes couldn’t be higher. Failure to reach quorum and advance proposals risks losing deals and, in the worst case, dissolving the SPAC because of charter expiration. All these challenges are compounded because SPACs tend to have a much higher ratio of retail shareholders compared to most corporations. SPAC popularity continues to grow as mobile-friendly platforms like Robinhood and Webull make SPACs appealing to a wider array of investors. How two SPACs used social media marketing t