Thunder Bridge Acquisition II said in an 8-K filing it has amended its annual report after accounting for its warrants as liabilities on the balance sheet. This aligns the SPAC with the SEC’s position on warrants released last month — that the instruments should be treated as derviative liabilities rather than equity assets, as has historically been the case.
Thunder Bridge II said the change in the accounting treatment of the warrants has no effect on its ongoing operations or plans to complete the business combination announced in December with indie Semiconductor, a provider of semiconductor and software solutions for the rapidly growing Autotech market. Read more.
