By John Jannarone
Edward Kovary, Jr., a veteran investment banker and pioneer of the special purpose acquisition company (SPAC) model, has departed EarlyBirdCapital, Inc. after 18 years at the firm.
Mr. Kovary, who was Head of Capital Markets for most of his tenure, is expected to announce a new role in the near future.
“After almost two decades in the SPAC community, and with unwavering confidence in the SPAC program as a viable avenue for guiding private companies into the public markets, sponsors and de-SPAC operating businesses need a broad range of services that full service platforms provide,” Mr. Kovary told Exec Edge on Wednesday. “I’m excited for this next chapter.”
In its current iteration, the SPAC program celebrated its 20th anniversary this year, having established itself as a viable alternative to a traditional IPO. Mr. Kovary focused exclusively on SPACs, where he launched and grew EBC’s institutional investor practice into one of the leading SPAC franchises on Wall Street.