Another SPAC has alerted shareholders not to rely on its most recent annual report, following the SEC’s statement on new accounting for warrants.
TS Innovation Acquisitions said it will amend and refile its 10-K to account for warrants as derivative liabilities on the balance sheet, which would align with the SEC’s statement earlier this month.
The SPAC is among dozens of blank-check companies working with their accounting firms on a re-do of financial disclosures after the SEC’s April 12 staff statement virtually slammed the brakes on the runaway SPAC market.
TS Innovation raised $300 milion in a November IPO to target opportunities in technology-driven companies tailored to the real estate sector. Read more.
