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Blog: Staff posts guidance on accounting for warrants issued in SPAC transactions | Cooley LLP


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Warrants are frequently issued in connection with the formation and initial registered offerings of SPACs, but apparently there have been some problems with accounting for some of these warrants, or at least, so it appears from this Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (“SPACs”) from Acting Corp Fin Director John Coates and Acting Chief Accountant Paul Munter.  The Statement is intended to “highlight the potential accounting implications of certain terms that may be common in warrants included in SPAC transactions” and to discuss what needs to be done if this Statement leads a company and its auditors to determine there is an error in any previously filed financial statements.  The primary issue identified in the Statement is whether these warrants should be classified as equity or liabilities, which depends largely on the sp ....

Paul Munter , John Coates , Purpose Acquisition Companies Spacs , Corp Fin , Staff Statement , Reporting Considerations , Warrants Issued , Special Purpose Acquisition Companies , Acting Corp Fin Director John Coates , Acting Chief Accountant Paul , Previously Issued Financial Statements , Related Audit Report , Completed Interim , Reg Sk Item , பால் முந்தர் , ஜான் பூச்சுகள் , கார்ப் துடுப்பு , ஊழியர்கள் அறிக்கை , சிறப்பு நோக்கம் கையகப்படுத்தல் நிறுவனங்கள் , நடிப்பு கார்ப் துடுப்பு இயக்குனர் ஜான் பூச்சுகள் , நடிப்பு தலைமை கணக்கர் பால் , தொடர்புடையது தணிக்கை அறிக்கை , நிறைவு இடைக்கால , ரெக் ஸ்க் உருப்படி ,

The SPAC crackdown hasn't truly begun, but the SEC is obviously considering it


The SPAC crackdown hasn’t truly begun, but the SEC is obviously considering it
MarketWatch
1 hr ago
THERESE POLETTI S TECH TALES
The Securities and Exchange Commission is obviously looking at the explosion of blank-check companies on Wall Street, but isn’t totally cracking down on them yet.
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Seeking to anticipate any potential issues that may result from the current mania for special-purpose acquisition companies, or SPACs, on Wall Street, the Securities and Exchange Commission issued a staff statement last week to remind companies of the rules. That warning followed disclosures of multiple investigations into specific SPACs, which amped up thoughts that the regulatory agency is looking to push back against the newly popular funding mechanisms. ....

Michael Klausner , Paul Munter , Dan Gode , Exchange Commission , York University Stern School Of Business , Nikola Corp , Ability Inc , Clover Health Investments Corp , Spacs Companies , Wall Street , New York University , Stern School , Acting Chief Accountant Paul , Law Michael Klausner , Clover Health Investments , Sober Look , பால் முந்தர் , டான் கோட் , பரிமாற்றம் தரகு , யார்க் பல்கலைக்கழகம் கடுமையான பள்ளி ஆஃப் வணிக , நிகோலா கார்ப் , திறன் இன்க் , க்ளோவர் ஆரோக்கியம் முதலீடுகள் கார்ப் , சுவர் தெரு , புதியது யார்க் பல்கலைக்கழகம் , கடுமையான பள்ளி ,