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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 that has already occurred in reaction to the SEC’s previous guidance on SPAC warrants. For 2021 so f...
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 on the accounting treatment of its warrants. The Company’s conclusion based upon the SEC’s recent...
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 COMPLIANCE WITH NASDAQ RULES Rodgers Silicon Valley Acquisition Corporation (the “Company”) ann...
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...