Securities and Exchange Commission (SEC), Financial Reporting, Special Purpose Acquisition Companies (SPACs)

SEC Expands Confidential Registration Statement Filing Process

Orrick, Herrington & Sutcliffe LLP on 3/6/2025

The SEC announced that companies can now submit registration statements for confidential review before public filing in connection with most registered offerings. This expansion builds on the confidential filing process that...more

2023 Going Public: U.S. IPO Report

Paul Hastings LLP on 1/24/2024

Following a lackluster 2022, the IPO market continued to flounder during 2023, partially attributable to ongoing macroeconomic uncertainty and geopolitical uncertainty, including sustained high interest rates, the banking...more

SEC Throws Wrench In SPAC Boom

Opportune LLP on 4/21/2021

On April 12, 2021, the U.S. Securities and Exchange Commission (SEC) issued guidance directed at the accounting for warrants utilized by many special purpose acquisition companies (SPACs). Significant valuation work and...more

SPAC Talk: Important Considerations for Private Companies Evaluating a SPAC Going-Public Transaction

Dorsey & Whitney LLP on 4/8/2021

One of the hottest going-public trends in 2020 and 2021 has been the rise of SPACs - Special Purpose Acquisition Companies - as a vehicle for private companies to go public. SPACs are shell companies that are formed, funded...more

SEC staff announces guidance for SPACs

BCLP on 4/6/2021

Last week the Staff of the Division of Corporation Finance issued a statement addressing a variety of accounting, financial reporting and governance issues that a private operating company should consider before undertaking a...more

SEC Signals Enhanced Scrutiny of SPAC Transactions

Foley & Lardner LLP on 4/5/2021

On March 31, 2021, the SEC’s Division of Corporation Finance and Acting Chief Accountant issued separate public statements concerning Special Purpose Acquisition Companies (“SPACs”). In these recent statements, the SEC is...more