Regulatory Edge Benefiting SPACS Should End, Panel Told

By Tom Zanki (March 11, 2021, 10:00 PM EST) -- A law professor on Thursday urged a U.S. Securities and Exchange Commission panel to support ending regulatory inconsistencies perceived as favoring special purpose acquisition companies compared with other ways of going public, citing investor protection concerns.

Michael Ohlrogge, an assistant professor at New York University School of Law, said existing regulations advantage SPACs over traditional initial public offerings and direct listings. He suggested securities regulators eliminate such disparities, noting that recent data shows the post-merger performance of companies that have gone public through SPACs lag the broader market.

"The first thing to note about SPACs is that historically post-merger returns to...

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