Rogers Silicon Valley Acquisition in an 8-K filing today said it will restate and amend ints annual report to reflect the company’s warrants as liabilities on the balance sheet. This makes The SPAC the latest blank-check company to announce it would amend financial statements following the SEC’s April 12 remarks about warrants being treated as liabilities rather than assets, as had been customary.
The SPAC said its revised accounting for the warrants as derivative liabilities will have no effect on previously reported operating expenses, cash flows or cash. Read more.
