The SEC’s proposed regulations regarding SPACs would, if adopted, increase the potential liability for SPACs, SPAC underwriters and target companies participating in SPAC business combination (de-SPAC) transactions, the Winston & Strawn law firm writes. \
The proposed rules would add specialized disclosure obligations for SPACs in connection with their initial public offerings and in de-SPAC transactions. The SEC has also proposed a safe harbor under which SPACs would not be deemed to be investment companies under the Investment Company Act of 1940, subject to meeting certain conditions.
Seven attorneys with the firm collaborated to examine the potential ramifications of these proposed regulations. Read more.
