Page 12 - Reporting Considerations News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 disclosure and filing requirements, as well as the impact on existing SEC filings and commercial agreemen...

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 Market (“Nasdaq”) stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1)...

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 embed, copy and paste the code into your website or blog: SPACs seem to be having their moment in the financial world, especially in 2021.  In less than three months, U.S.-based SPACs have raised more money – almost $88 billion – than all SPACs combined in 2020 (which held the previous high for SPAC investment by some margin).  They have even reached a level of societal notoriety, as shown by this week’s cover of New York Magazine.  However, before SPACs and their supporters can carry this trend “to the moon,” the SEC chose this week to release two notices bringing SPAC fans b...

To print this article, all you need is to be registered or login on Mondaq.com. SPACs seem to be having their moment in the financial world, especially in 2021.  In less than three months, U.S.-based SPACs have raised more money – almost $88 billion – than all SPACs combined in 2020 (which held the previous high for SPAC investment by some margin).  They have even reached a level of societal notoriety, as shown by this week's cover of New York Magazine.  However, before SPACs and their supporters can carry this trend "to the moon," the SEC chose this week to rel...