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SEC Adopts Rules on Special Purpose Acquisition Companies, Shell Companies, and Projections: Client Alert Digest

March 05, 2024 (1 min read)

The SEC adopted rules and rule amendments on January 24, 2024, that impose a considerable amount of new disclosure requirements for special purpose acquisition companies (SPACs) relating to sponsors, conflicts of interest, de-SPAC transactions, and more. The SEC also eliminated the use of the Private Securities Litigation Reform Act blank check companies safe harbor for SPACs, set minimum dissemination period for Forms S-4 and F-4, and made other changes aligning SPACs with traditional IPOs. Read this article for more details about the changes, effective dates, and links to further resources.

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