Revolution Acceleration Acquisition today became the latest SPAC to announced it will amend its public financial statements following the SEC’s evolving position on accounting for warrants.
Revolution in an 8-K filing said shareholders should not rely on its 10-K filed with the regulator last month, but should instead review amended filings.
Going forward, the SPAC said, “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.”
The SPAC raised $287.5 million in a December IPO to target companies in technology, government policy, and regulation.Read more.
