SEC To Deliberate On Nasdaq's Bid To Ease SPAC Rules
Law360, New York (January 10, 2018, 7:48 PM EST) -- The U.S. Securities and Exchange Commission said Tuesday it will launch proceedings on a Nasdaq proposal to ease listing rules for special purpose acquisition companies, which are increasingly popular vehicles for taking businesses public, possibly delaying a decision for months.
The SEC, having previously postponed a decision on Nov. 22, said it needs more time to analyze whether the proposed rule change is consistent with securities law. Nasdaq’s proposal comes as SPACs, which are shell entities that raise money through initial public offerings in order to acquire a company and take it public, form a rising presence in capital markets....
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