To the Point - SEC rules require new SPAC disclosures and clarify reporting requirements for shell companies


The SEC adopted new and amended rules requiring new disclosures when a special purpose acquisition company (SPAC) conducts an initial public offering (IPO) and when it combines with a private operating company in what is known as a de-SPAC transaction, among other related changes. The rules are intended to more closely align the disclosure requirements and legal obligations of parties involved in de-SPAC transactions with those in traditional IPOs.

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