Yoni Assia, the chief executive of digital investing app EToro has said regulators should look for ways to encourage retail investors’ participation in SPACs, ahead of the firm’s own debut via the process later this year, Financial News reports.
Announced in Maerch, Fintech Acquisition V plans to merge with EToro at a $10.4 billion valuation. Announced in March, the transaction includes $250 million in gross proceeds from FinTech V’s cash in trust and $650 million in gross proceeds from a fully committed PIPE at $10 per share.
His views come up against those of global watchdogs, who have voiced mounting concerns over Spacs. Regulators like the SEC are worried that shareholders may not receive the same thorough disclosures when they fund a SPAC compared to a routine IPO. Read more.