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SEC Proposes Major Rule Changes for SPACs
18 April 2022
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The SEC recently announced proposed rules and amendments aimed at enhancing disclosure and investor protection in initial public offerings by special purpose acquisition companies (“SPACs”) and in SPAC business combination transactions with private operating companies (“de-SPAC transactions”).
The SEC’s proposed rules and amendments would significantly alter the SPAC landscape by imposing new and extensive disclosure requirements for SPACs and expanding potential liability under the federal securities laws for SPACs and participants in SPAC IPOs and de-SPAC transactions.
The public comment period will remain open until May 31, 2022 or 30 days following publication of the proposing release in the Federal Register, whichever period is longer.
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Morgan J. Hayes
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