Stay updated with breaking news from Liability Risk Under. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The SEC approved a 372-page proposal of numerous rules regarding disclosures and procedural requirements for special purpose acquisition companies SPACs. The proposed rules would revise the requirements for target company financial statements in de-SPAC transactions.
To embed, copy and paste the code into your website or blog: In light of the dramatic upswing in the use of special purpose acquisition companies (SPACs), the staff of the Securities and Exchange Commission (SEC) has issued several public statements highlighting concerns and issues related to SPACs and private operating companies that are going public through business combinations with SPACs. These business combinations are referred to as "de-SPAC transactions." On April 8, 2021, John Coates, Acting Director of the SEC's Division of Corporation Finance, published a statement titled SPACs, I...