SEC’s New Rules Give SPACs, Target Companies Much to Consider
JD Supra: Mergers
FEBRUARY 28, 2024
On January 24, 2024, the U.S. Securities and Exchange Commission (the “SEC”) adopted new final rules relating to special purpose acquisition companies (“SPACs”). The new rules affect both initial public offerings (“IPOs”) for SPACs and so-called “de-SPAC” transactions involving target companies who enter into a business combination with SPACs. In summary, the new rules appear intended to harmonize the requirements (and potential liability for SPAC acquisition targets) of de-SPAC transactions.
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