BYTE Acquisition in an 8-K filing said it will amend and refile financial statements to account for its warrants as liabilities — a move that aligns the SPAC with the SEC’s position on the instruments.
The cost of measuring the fair value of the warrants may have an adverse effect on results of operations, the SPAC said.
BYTE raised $300 million in a March IPO target companies in the Israeli technology industry. Read more.
