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On Jan. 24, 2024, the Securities and Exchange Commission (the "SEC") adopted final rules to enhance disclosures and provide additional investor protections in initial public offerings (IPOs) for special...
On January 24, 2024, the Securities and Exchange Commission (SEC) adopted the final rules intended to augment investor protections in initial public offerings by special purpose...
The Securities and Exchange Commission ("SEC") recently proposed rules that would impose significant new requirements that affect disclosure and liability in initial public offerings...
Summary Special purpose acquisition companies (“SPACs”), it seems, are everywhere. SPACs have been around for decades, but use of a SPAC to take a company public without a traditional initial public offering (“IPO”) has recently exploded in popularity, especially in the first few months of 2021. One driver of the popularity of SPACs is the perception that they have lower liability risks than a traditional IPO. But a closer look at SPAC transactions suggests that the liability risks are not as low as some believe, and SPAC sponsors and directors and officers of SPAC companies shoul...