The SPAC saaid in a statement that after reviewing financials with its accounting firm it will file amended statements to align with the SEC’s new position on treating warrants as liabilities.
“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,” the SPAC said.
Scores of blank-check firms have announced their intent to amend and refile financial statements followeing the SEC’s staff announcement last month.
Corner Growth raised $350 million in a December IPO to target “early-growth stage technology companies that could grow into global category leaders.” Read more.
