bullish
SPACs in a New Era
SUMMARY
Under new U.S. Securities and Exchange Commission rules, U.S. SPACs and their acquisition targets will have increased legal responsibility for disclosing projected earnings and other important information.
The Commission, split 3-2, approved the proposal despite opposition from Republican members who feared it might limit a useful investment tool.
- Gary Gensler, the U.S. Securities and Exchange Commission chairman, stated that the new rules are intended to align SPACs more closely with traditional IPO regulations, emphasizing equal investor protections for both.
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