SEC Is Carefully Watching Filings From SPACs and Their Targets

April 8, 2021, 6:40 PM

The U.S. Securities and Exchange Commission says it continues to “look carefully at filings and disclosures by SPACs and their private targets” amid what the agency calls an “unprecedented surge” in SPAC deals.

  • “New issues with both standard and innovative SPAC structures keep surfacing,” John Coates, acting director of the agency’s division of corporate finance, says in a statement
  • Claims that SPACs offer less securities law liability than traditional IPOs “raise significant investor protection questions” and could be potentially misleading, Coates writes; in some ways, he says liability risks are higher due to potential conflicts of interest in the SPAC ...

To read the full article log in. To learn more about a subscription click here.