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Item 2.02 Result of Operations and Financial Condition The information set forth under Item 4.02 is incorporated into this Item 2.02 by reference. Item 4.02 Non-Reliance on Previously Issued... | December 18, 2021
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 by Special Purpose Acquisition Companies (SPACs), 1 suggests that the SEC staff has concerns that t...
To print this article, all you need is to be registered or login on Mondaq.com. SEC Division of Corporation Finance Acting Chair John Coates and SEC Acting Chief Accountant Paul Munter (the "officials") highlighted certain considerations in accounting for warrants issued by Special Purpose Acquisition Companies ("SPACs"). In a public statement, the SEC Division of Corporation Finance and the Office of the Chief Accountant staff ("staff") reviewed the potential accounting implications and "the financial reporting considerations that apply if a registrant and its auditor...
To embed, copy and paste the code into your website or blog: Warrants are frequently issued in connection with the formation and initial registered offerings of SPACs, but apparently there have been some problems with accounting for some of these warrants, or at least, so it appears from this Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (“SPACs”) from Acting Corp Fin Director John Coates and Acting Chief Accountant Paul Munter. The Statement is intended to “highlight the potential accounting implications of cer...
Jan. 26, 2021 A company has just released its quarterly earnings. Another company has auditor news that could raise a red flag, and a third company is filing for bankruptcy. Where can you find more facts? Information about these events and many more are found in a document called a current report on Form 8-K. Form 8-K provides investors with current information to enable them to make informed decisions. The types of information required to be disclosed on Form 8-K are generally considered to be “material.” That means that, in general, there is a substantial l...