bearish
The SEC is Handing SPACs a Death by a Thousand Cuts
SUMMARY
- SPACs have been on the back foot in recent months, aiming to close deals with unprecedented levels of uncertainty in the broader market, while also dealing with skepticism from investors and target companies after a dismal 2021
- While SPAC sponsors and dealmakers would have hoped for positive news, recent regulatory proposals from the SEC could take things from bad to worse
- The proposed rules are more far-reaching than previously anticipated and is expected to result in deals becoming much more lengthy and complicated, while also imposing a greater risk of legal liability on those involved
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