Decarbonization Plus Acquisition in an 8-K filing said would filed an amended annual report containing new accounting for its warrants, making it the latest blank-check company to restate financials following the SEC’s cautionary statement April 12.
The SPAC said it will now treat warrants as liabilities on the balance sheet, in keeping with the SEC’s position. Scores of SPACs have taken similar steps in the wake of the SEC’s statement a month ago.
Decarbonization Plus is in a pending $626 million merger with Hyzon, a global supplier of zero-emissions hydrogen fuel cell powered commercial vehicles. The pro forma implied enterprise value of the combined company would be $2.1 billion. Read more.
