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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 – Consumer Electronics Net


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 guidance has resulted in a corrective disclosure, approved by its auditor, Marcum LLP (“Marcum”). This disclosure is described on Form-8K (“the Filing”) filed today, and will result in a restatement of the Company’s Form-10K for the fiscal year ended 2020. Both the Company’s original Form-10K and restated Form-10KA were timely filed according to Nasdaq rules, and both rece ....

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CORRECTING and REPLACING 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 – Consumer Electronics Net


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”) 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 it ....

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InterPrivate II Acquisition Corp. Announces Pricing of Upsized $225 Million Initial Public Offering

InterPrivate II Acquisition Corp. (the "Company") announced today the pricing of its upsized initial public offering of 22,500,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange (the "NYSE") and trade under the ticker symbol "IPVA.U" beginning on March 5, 2021. Each unit consists of one share of Class A common stock and one-fifth of one redeemable warrant, with each whole warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share. After the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the NYSE under the symbols "IPVA" and "IPVA WS," respectively. The offering is expected to close on March 9, 2021. ....

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