On 24 January 2024, the US Securities and Exchange Commission (SEC), by a 3-to-2 vote, adopted the long-awaited final rules regarding special purpose acquisition companies (spacs), shell companies, and projections. The final rules are intended to enhance investor protections in SPAC initial public offerings (IPOs) and in subsequent business combination transactions between SPACs and private operating companies (de-SPAC transactions). SEC Chairman Gensler reiterated that the SEC feels investors in de-SPAC transactions should have the traditional protections available in an ipo and the adopted rules are designed to largely align with the “time tested” protections available in an IPO. The final rules impose additional disclosure and reporting requirements for both spac ipos and de-SPAC transactions and are summarized below.
Source: SEC Adopts Final Rules Regarding SPACs and De-SPAC Transactions to Impose Additional Disclosure and Reporting Requirements
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- Source: https://spacfeed.com/sec-adopts-final-rules-regarding-spacs-and-de-spac-transactions-to-impose-additional-disclosure-and-reporting-requirements
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