Today, SPAC investors are waking up to a new landscape, Financial News London reports.
The Financial Conduct Authority’s changes to its listing rules for SPACs have finally come into play, meaning that investors are now permitted to exit prior to an acquisition being completed. Previously in the UK, a SPAC listing was suspended if it identified an acquisition target – locking investors into a SPAC as soon as a target was announced, and making them a less desirable investment route for UK investors.
In addition to investors now being allowed to exit before an acquisition is complete, further disclosures, such as ensuring money raised from public shareholders is ring-fenced and rules requiring shareholder approval for any proposed acquisition have also come into force. Read more.
