Experience Investment in an 8-K filing said it would amend its annual report to account for the warrants in its units as liabilities. The move follows the SEC’s April 12 statement on warrants that has thrown the SPAC space into a scramble to restate financial reports.
Experience in the 8-K listed a summary of the financial impact statement. The SPAC also said the expected restatement of its annual report “is not indicative of any change in management’s expectations regarding the business prospects for EIC or the post-business combination company,” referring to the SPAC’s pending $400 million merger with Blade Urban Air Mobility. A shareholder vote on the deal is set for May 5. Read more.
