Page 5 - Staff Statement News Today

29.04.2021 - QuantumScape Corporation (NYSE: QS, QuantumScape,” or “Company”) is announcing that as a result of recent guidance provided by the SEC on April 12, 2021 regarding the accounting and reporting of warrants issued by SPACs (the “Staff Statement”), it ... Seite 1

To embed, copy and paste the code into your website or blog: Reuters is reporting—exclusively—that the SEC is contemplating issuing more guidance that would “rein in growth projections” made by listed SPACs and clarify when the PSLRA would be available to protect SPAC projections, “according to three people with knowledge of the discussions.”  According to Reuters, the SEC guidance “would escalate its crackdown on the deal frenzy” in SPACs and could exacerbate the slowdown tha...

5 hours ago WOODSIDE, Calif.–(BUSINESS WIRE)–Rodgers Silicon Valley Acquisition Corporation (the “Company”) announced today that, as the result of the U.S. Securities and Exchange Commission’s (“SEC’s”) recent Staff Statement, released on April 12, 2021 relating to the accounting treatment of certain warrants issued by special purpose acquisition companies (“SPACs”), the Company has completed an analysis of the effect of the SEC’s guidance o...

3 hours ago WOODSIDE, Calif.–(BUSINESS WIRE)–Second paragraph, third sentence of release should read: The Company’s original Form-10K was timely filed according to Nasdaq rules, and both filings have or will have received the approval of Marcum with respect to the then-current SEC guidance. The updated release reads: RODGERS SILICON VALLEY ACQUISITION CORPORATION: NEW SEC GUIDANCE RELATING TO SPAC WARRANTS, ITS EFFECT ON THE COMPANY’S PERIODIC FILINGS AND...

TAKEAWAYS The recent statement by the Staff of the SEC (the Staff Statement) will likely impact almost every SPAC or post-de-SPAC entity with warrants in its structure. SPAC/post-de-SPAC entities should review warrant terms to determine appropriate accounting treatment in light of the recent Staff Statement and assess the materiality of any changes required and if a full restatement is needed. If a correction or full restatement is required, SPAC/post-de-SPAC entities should also consider discl...

To print this article, all you need is to be registered or login on Mondaq.com. SEC requirements on SPACs are ramping up. The last time they did so, blank-check companies languished. How will greater scrutiny this time round impact the momentum of SPACs in play and in the planning stages? The surge in todays market darling special-purpose acquisition companies (SPACs) has the SEC taking notice. On April 8, the SEC issued a public statement outlining a myriad of concern...

Mallard Acquisition Corp. Receives Expected Notice from Nasdaq Regarding Delayed Annual Report April 22, 2021 17:05 ET | Source: Mallard Acquisition Corp. Mallard Acquisition Corp. Cornelius, North Carolina, UNITED STATES NEW YORK, April 22, 2021 (GLOBE NEWSWIRE) -- Mallard Acquisition Corp. (NASDAQ: MACUU) (the “Company”) announced today that it received a notice (“Notice”) from the Listing Qualifications Department of The Nasdaq Stock Mar...

To embed, copy and paste the code into your website or blog: On April 12, 2021, the U.S. Securities and Exchange Commission (SEC) published a joint statement by John Coates, Acting Director of the Division of Corporation Finance, and Paul Munter, Acting Chief Accountant, which provides their view on the accounting treatment of warrants issued by special purpose acquisition companies (SPACs). This statement, titled  Staff Statement on Accounting and Reporting Considerations for Warrants Issued ...

Key Points Between September 2020 and March 2021, at least 35 SPACs have been hit with one or more shareholder lawsuits filed in New York state court. These lawsuits generally allege that SPAC directors breached their fiduciary duties to shareholders by providing allegedly inadequate disclosures regarding proposed de-SPAC mergers. Some of these lawsuits also assert claims against the SPAC itself, as well as the target company and its board of directors, for allegedly aiding and abetting the SPA...

Friday, April 16, 2021 Following the increase in the number of special purpose acquisition companies (SPACs) and the related business combinations between SPACs and private target businesses (commonly referred to as “de-SPAC” transactions), an increase in regulatory scrutiny, particularly from the Securities and Exchange Commission, is emerging. As discussed below, in the last week the SEC has issued two statements — one related to the accounting treatment of warrants and one re...