Regulators Are Keeping A Close Eye On SPAC Disclosures
Law360 (October 9, 2020, 2:31 PM EDT) -- The boom in special purpose acquisition companies hasn't escaped the eye of the U.S. Securities and Exchange Commission, as evidenced by its recent guidance affirming that companies that go public through such vehicles should follow similar disclosure rules that apply to most public companies.
The SEC recently clarified that companies that go public through a SPAC, also known as a blank-check company, must wait 12 months until they become eligible to file short-form registration statements, which provide a quicker way to raise additional capital compared with a full registration statement. This benefit of faster registration is typically made available to public companies...
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