Climate Real Impact Solutions II Acquisition is evaluating the materiality of the impact to its financial statements that would result from restating the company’s warrants in a manner consistent with the SEC’s position on treating the instruments as liabilities on the balance sheet.
The SPAC said it has approximately 9.38 million outstanding warrants, comprised of 4.83 million included in the units sold in the IPO and about 4.55 million issued to the sponsor in a private placement.
The SPAC is one of dozens of blank-check companies that have announced plans to review and restate financial reports to align with the SEC’s statement earlier this month. Read more.
