GX Acquisition in an 8-K filing today told shareholders not to rely on the previously filed annual report, as the SPAC will submit an amended 10-K to the SEC to align with the regulator’s statement on accounting for warrants.
“Going forward, unless we amend the terms of our warrant agreement, we expect to continue to classify our warrants as a liabilities, which would require us to incur the cost of measuring the fair value of the warrant liabilities, and which may have an adverse effect on our results of operations,” GX said in the filing.
The SPAC is in a pending $372 million merger with Celularity, a clinical-stage biotechnology company. Read more.
