CHP Merger in an 8-K filing today said it would amend and refile its 2020 annual report to change its accounting for warrants as liabilities.
In so doing, CHP becomes the latest SPAC to restate financials after the SEC last month said warrants should not be treated as equity instruments. The pronouncement has had a chilling effect on the blank-check market, which some finance experts have said was the SEC’s ulterior intent.
CHP raised $250 million in an October 2019 IPO to target US healthcare companies. Read more.
