Joel L. Rubinstein

Partner, New York

Biography

Overview

Joel Rubinstein is a partner at White & Case, and a member of the Firm's Capital Markets Practice.

Joel has particular expertise in advising issuers, underwriters and investors on the IPOs of special purpose acquisition companies (SPACs), as well as SPACs, target companies and investors in M&A transactions between SPACs and operating companies. He has represented clients in more than 75 SPAC IPOs, raising aggregate gross proceeds of more than US$25 billion, and in more than 30 business combination transactions with an aggregate enterprise value of more than US$35 billion.

Bars and Courts
New York State Bar
Education
JD
University of Michigan Law School
BA
Wayne State University
Languages
English

Experience

Joel's experience includes:*

SPAC IPOs – Issuer Representation 

  • Flying Eagle Acquisition Corp. in its US$690 million IPO
  • Diamond Eagle Acquisition Corp. in its US$400 million IPO
  • Platinum Eagle Acquisition Corp. in its US$325 million IPO
  • Double Eagle Acquisition Corp. in its US$500 million IPO
  • Silver Eagle Acquisition Corp. in its US$325 million IPO
  • Global Eagle Acquisition Corp. in its US$190 million IPO
  • CF Corporation in its US$690 million IPO and US$510 million forward purchase agreements
  • Landcadia Holdings III, Inc. in its US$575 million IPO
  • Landcadia Holdings II, Inc. in its US$316 million IPO
  • Landcadia Holdings, Inc. in its US$250 million IPO
  • GTY Technology Holdings Inc. in its US$552 million IPO
  • Collier Creek Holdings in its US$440 million IPO
  • Hudson Executive Investment Corp. in its US$414 million IPO
  • Ascendant Digital Acquisition Corp. in its US$414 million IPO
  • CM Life Sciences, Inc. in its US$385 million IPO
  • Fusion Acquisition Corp. in its US$350 million IPO
  • D8 Holdings Corp. in its US$345 million IPO
  • Falcon Capital Acquisition Corp. in its US$345 million IPO
  • D8 Holdings Corp. in its US$345 million IPO
  • New Frontier Corporation in its US$287.5 million IPO and US$190 million forward purchase agreements
  • CITIC Capital Acquisition Corp. in its US$276 million IPO
  • dMY Technology Group II, Inc. in its US$276 million IPO
  • dMY Technology Group, Inc. in its US$230 million IPO
  • ION Acquisition Corp. 1 Ltd. In its US$260 million IPO
  • Netfin Acquisition Corp. in its US$253 million IPO
  • Forum Merger III Corporation in its US$250 million IPO
  • AR Capital Acquisition Corp. in its US$240 million IPO
  • DFP Healthcare Acquisitions Corp. in its US$230 million IPO
  • Deerfield Healthcare Technology Acquisitions Corp. in its US$125 million IPO
  • Industrea Acquisition Corp. in its US$230 million IPO
  • Graf Industrial Corp. in its US$225 million IPO
  • FG New America Acquisition Corp. in its US$225 million IPO
  • FAST Acquisition Corp. in its US$200 million IPO
  • Colonnade Acquisition Corp. in its US$200 million IPO
  • VPC Impact Acquisition Holdings in its US$200 million IPO
  • B. Riley Principal Merger Corp. II in its US$175 million IPO
  • B. Riley Principal Merger Corp. in its US$125 million IPO
  • Levy Acquisition Corp. in its US$150 million IPO
  • ROI Acquisition Corp. II in its US$125 million IPO
  • JWC Acquisition Corp. in its US$125 million IPO
  • FS Development Corp. in its US$121 million IPO
  • Helix Acquisition Corp. in its US$100 million IPO
  • HighCape Capital Acquisition Corp. in its US$100 million IPO

SPAC IPOs – Underwriter Representation

Citigroup and the other underwriters in the:

  • US$2.07 billion IPO of Churchill Capital Corp IV
  • US$1.1 billion IPO of Churchill Capital Corp III
  • US$750 million IPO of Apollo Strategic Growth Capital
  • US$690 million IPO of Churchill Capital Corp II
  • US$690 million IPO of Churchill Capital Corp
  • US$377 million IPO of Kayne Anderson Acquisition Corp.
  • US$278 million IPO of Arclight Clean Transition Corp.

Goldman, Sachs & Co. and the other underwriters in the:

  • US$575 million IPO of RedBall Acquisition Corp.
  • US$240 million IPO of one

Jefferies and the other underwriters in the:

  • US$300 million IPO of Tailwind Acquisition Corp.
  • US$136 million IPO of Research Alliance Corp. I
  • US$200 million IPO of Live Oak Acquisition Corp.
  • US$200 million IPO of Forum Merger II Corporation
  • US$172.5 million IPO of LGL Systems Acquisition Corp.

UBS Investment Bank and the other underwriters in the:

  • US$550 million IPO of Bridgetown Holdings Limited
  • US$225 million IPO of CIIG Merger Corp.
  • Deutsche Bank and the other underwriters in the US$250 million IPO of ACON S2 Acquisition Corp.
  • Cantor Fitzgerald & Co. as underwriter of the US$200 million IPO of Mudrick Capital Acquisition Corporation
  • BTIG as underwriter of the US$143.7 million IPO of Malacca Straits Acquisition Company Limited
  • Oppenheimer & Co. Inc. as underwriter ofn the US$100 million IPO of Alpha Healthcare Acquisition Corp.

SPAC IPOs – Investor Representation

  • BlackRock as anchor investor in the IPOs of BowX Acquisition Corp., Hennessy Capital Acquisition Corp. IV, DiamondPeak Holdings Corp., RMG Acquisition Corp., VectoIQ Acquisition Corp. and LF Capital Acquisition Corp
  • JS Capital, LLC and Soros Capital LLC in US$125 million of forward purchase agreements in connection with the US$300 million IPO of One Madison Corporation

SPAC Business Combination Transactions

  • Flying Eagle Acquisition Corp. in its US$3.5 billion business combination with Skillz, Inc. (pending)
  • Diamond Eagle Acquisition Corp. in its US$3.3 billion business combination with DraftKings Inc. and SBTech
  • CF Corporation in its US$2.2 billion business combination with Fidelity & Guaranty Life
  • Graf Industrial Corp. in its US$1.8 billion business combination with Velodyne Lidar, Inc.
  • dMY Technology Group, Inc. in its US$1.78 billion business combination with Rush Street Interactive, LP (pending)
  • dMY Technology Group, Inc. II in its US$1.68 billion business combination with Genius Sports Group (pending)
  • Platinum Eagle Acquisition Corp. in its US$1.4 billion business combination with Target Logistics Management, LLC and RL Signor Holdings, LLC
  • New Frontier Corporation in its US$1.4 billion business combination with United Family Healthcare
  • Silver Eagle Acquisition Corp. in its US$1.3 billion business combination with Videocon d2h Limited
  • Double Eagle Acquisition Corp. in its US$1.1 billion business combination with Williams Scotsman International, Inc.
  • U.S. Well Services, LLC in its US$800 million business combination with Matlin & Partners Acquisition Co.
  • GTY Technology Holdings Inc. in its US$797 million business combination with six companies providing digital technologies to the public sector market
  • Landcadia Holdings II, Inc. in its US$745 million business combination with Golden Nugget Online Gaming, Inc. (pending)
  • Boxwood Merger Corp. in its US$710 million business combination with Atlas Technical Consultants
  • Industrea Acquisition Corp. in its US$696 million business combination with Concrete Pumping Holdings, Inc.
  • Netfin Acquisition Corp. in its US$674 million business combination with Triterras Fintech Pte Ltd. (pending)
  • Landcadia Holdings, Inc. in its US$545 million business combination with Waitr Incorporated
  • B. Riley Principal Merger Corp. in its US$550 million business combination with Alta Equipment Holdings Inc.
  • B. Riley Principal Merger Corp. II in its US$550 million business combination with Eso Energy Storage (pending)
  • JWC Acquisition Corp. in its US$500 million business combination with Tile Shop, LLC
  • Forum Merger II Corporation in its US$482 million business combination with Tattooed Chef
  • FS Development Corp. in its US$430 million business combination with Gemini Therapeutics (pending)
  • Global Eagle Acquisition Corp. in its US$430 million business combination with Row 44, Inc. and AIA AG
  • ROI Acquisition Corp. in its US$420 million business combination with EveryWare Global Inc.
  • Diginex Limited in its US$276 million business combination with 8i Enterprises Acquisition Corp.
  • Tecnoglass S.A. in its US$243 million business combination with Andina Acquisition Corporation
  • Zais Group in its US$163 million business combination with HF2 Financial Management Inc.
  • VivoPower International PLC in its US$135 million business combination with Arowana Inc.
  • 1347 Capital Corp. in its US$100 million business combination with Limbach Holdings, LLC

Public Offering

  • Represented the underwriters, led by Goldman Sachs & Co. LLC and Credit Suisse Securities (USA) LLC, in connection with a US$1.8 billion primary and secondary public offering of 46 million shares of Class A common stock of DraftKings Inc. (Nasdaq: DKNG)
  • Represented the underwriters, led by Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC, in connection with a US$635 million secondary public offering of 39.675 million ordinary shares of Clarivate Analytics plc (NYSE: CCC)
  • Represented Global Eagle Entertainment Inc. (Nasdaq: ENT) in its: US$190 million underwritten follow-on offering; and US$50 million underwritten secondary offering
  • Represented Waitr Holdings Inc. (Nasdaq: WTRH) in its US$50 million underwritten follow-on offering

Exchange Offers

  • Represented Waitr Holdings Inc. (Nasdaq: WTRH) in its offer to exchange its outstanding public warrants for shares of the Company’s common stock
  • Represented Global Eagle Entertainment Inc. (Nasdaq: ENT) in its offer to exchange its outstanding public warrants for shares of the Company’s common stock

Private Investment Funds

  • Represented StepStone, a global private markets firm overseeing US$70 billion of private capital allocations, in the formation of a variety of investment vehicles for pension funds and sovereign wealth funds, investments in private investment funds and secondary transactions involving private investment fund interests
  • Represented Munich Private Equity Partners and RWB Private Capital in investing in over 80 private equity funds

 

*Includes some matters prior to joining White & Case

Speaking Engagements

"SEC focus on Cybersecurity in the Financial Services Industry," PLI program, January 2017

"SPACs Debut in Canada and Continue in the United States: Trends in SPAC IPOs and Business Combinations on Both Sides of the Border," Practical Law Canada, January 2016

"SPACs: Overview," Practical Law, Practice Note, December 2015

Publications

"SPACs Are Back, And With Friendlier Terms," Buyouts, June 2010

"New SPAC Structure Holds Promise for Private Equity Exits," June peHUB, 2010

Awards and Recognition

"500 Leading Lawyers in America," Lawdragon Magazine, 2020

"Notable Practitioner" for Capital Markets: Equity, M&A, and Private Equity, IFLR1000, 2019

2019 Finance, Banking, and Capital Markets Trailblazer, The National Law Journal, 2019