Search results for: SPACs
SEC Adopts Final Rules Regarding SPACs and De-SPAC Transactions to Impose Additional Disclosure and Reporting Requirements | SPAC Feed
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
Honeycomb Battery and Nubia Brand International Close Merger | SPAC Feed
Honeycomb Battery Company today announced the completion of its business combination with Nubia Brand International. The transaction was approved by Nubia's stockholders on Dec. 14. The combined company was renamed Solidion Technology. Solidion's stock is expected to begin trading Feb. 5 on the nasdaq Global under new ticker symbol STI. Redemptions ahead of the SPAC's merger vote wiped out 99.4% of the public shares outstanding as of the Dec. 12 redemption deadline. That left 23,586 public shares outstanding. At deal announcement last May, the combined entity was expected to have
Open Meeting Report: SEC Approves SPAC Final Rules in 3-2 Vote | SPAC Feed
US Securities and Exchange Commission (sec) Chair gary gensler led an open meeting on January 24, 2024, hosting discussions that evaluated the potential benefits and pitfalls associated with the adoption of proposed rules aimed at increasing disclosure requirements and enhancing investor protections in the context of Special Purpose Acquisition Companies (SPACs) initial public offerings (IPOs), and in subsequent combination transactions consummated between SPACs and target companies, i.e., de-spac transactions. Source: Open Meeting Report: SEC Approves SPAC Final Rules in 3-2 Vote SEO Powered Content & PR Distribution. Get Amplified Today.
SEC Adopts Final Rules Enhancing Disclosures and Providing Additional Investor Protections Related to SPACs | SPAC Feed
Nearly two years after first proposing new rules related to special purpose acquisition companies (spacs), the U.S. Securities and Exchange Commission (sec) has adopted final rules aimed at enhancing investor protections in initial public offerings by SPACs and in subsequent de-spac transactions. The final rules require new enhanced disclosure requirements related to SPACs, and include new procedural protections in de-SPAC transactions. The SEC also provided guidance regarding underwriter status in de-SPAC transactions and analysis of a SPAC's potential status as an investment company under the Investment Company Act. Source: SEC
USDT issuer Tether pockets US$2.85 bln in profits in Q4 2023
Tether, the issuer of the world’s largest stablecoin USDT, has reported US$2.85 billion in profits in the last quarter of 2023, the highest quarterly record for the company. The company said around US$1 billion of the net profits came primarily from interests from the U.S. Treasuries, with the rest mostly coming from gold and Bitcoin reserves. Tether’s USDT is a stablecoin pegged to the price of the U.S. dollar. It maintains its dollar parity by holding “cash and cash equivalent” equal to the amount of USDT in circulation. Tether guarantees
SEC Adopts New SPAC Rules | SPAC Feed
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https://spacfeed.com/sec-adopts-new-spac-rules
On January 24, 2024, the SEC adopted new rules that apply to SPAC transactions and the adopted rules largely track the agency's proposals with some notable exceptions. The new rules will become effective 125 days after publication in the Federal Register and will apply to transactions that are ongoing at that time, even if they commenced prior to the effective date. spacs that may still be ongoing on the effective date, or any party considering a new SPAC transaction, should consider the impact of the new rules, which may raise
Regulatory Quick Takes | SPAC Feed
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https://spacfeed.com/regulatory-quick-takes
The financial services regulatory agencies have rolled into 2024 as busy as ever. This list hits on some quick takes of developments in the last month; a summit, a meeting and a symposium involving hot topics such as artificial intelligence (“ai”), tokenization and digital assets; and also the announcement of comment period extensions for proposed rules and guidance. Source: Regulatory Quick Takes SEO Powered Content & PR Distribution. Get Amplified Today. PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here. PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here. PlatoESG. Carbon, CleanTech, Energy,
Blockchain+ Bi-Weekly – January 2024 #2 | SPAC Feed
The blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart contracts, and US law. Source: Blockchain+ Bi-Weekly – January 2024 #2 SEO Powered Content & PR Distribution. Get Amplified Today. PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here. PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here. PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here. PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here. Source: https://spacfeed.com/blockchain-bi-weekly-january-2024-2
SEC Adopts Rules and Guidance on SPACs | SPAC Feed
On January 24, 2024, the sec adopted rules and guidance to impose a variety of new requirements on spacs. The effective date of the rules is 125 days after publication in the Federal Register, an unpredictable process that can take several weeks (except for the rules relating to Inline XBRL requirements for SPACs, which take effect 490 days after publication). Source: SEC Adopts Rules and Guidance on SPACs SEO Powered Content & PR Distribution. Get Amplified Today. PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here. PlatoAiStream. Web3 Intelligence. Knowledge Amplified.
Jaws Mustang Adjourns Extension Vote to Next Week | SPAC Feed
Jaws Mustang Acquisition said it convened and then adjourned yesterday's shareholder meeting without conducting any business. The meeting is expected to reconvene Feb. 2 at 10:30 a.m., Eastern when shareholders are slated to vote on a deadline extension from Feb. 4 to March 4. The SPAC earlier this week said 1,023,321 shares were redeemed in connection with the latest extension proposal. Jaws Mustang a year ago disclosed that nearly 102 million shares were redeemed ahead of a shareholder vote on an earlier deadline extension — out of about 103.5 million