Vesper Healthcare Acquisition in a filing today disclosed it is facing four lawsuits in connection with its pending merger with HydraFacial. The suits allege breach of fiduciary duties, which the SPAC denies. Vesper made additional disclosures on the deal in the latest filing, although the SPAC said the extra information was immaterial and offered only to prevent litigation from delaying the $1.1 billion merger.
Vesper also noted that it has retained an independent valuation expert to review its accounting for warrants. This follows the SEC’s statement last week that SPAcs will need to list warrants as liabilities, not equity assets, and provide fair value statements for each financial reporting period. That move has since led to a wave of SPACs announcing their annual reports and other financial statements will be delayed while they review the regulator’s guidance. Read more.
Vesper Healthcare Acquisition Defending Against Four Lawsuits
