Acies Acquisition today said it will restate and refile its 10-K to classify warrants as liabilities on the balance sheet. The move mirrors action taken by dozens of SPAcvs since the SEC’s statement last month that warrants should not be considered equity assets.
“These restatements will result in non-cash, non-operating financial statement corrections and will have no impact on our current or previously reported cash position, operating expenses or total operating, investing or financing cash flows,” the SPAC said in the filing.
Acies is in a pending $1.1B merger with PLAYSTUDIOS. Read more.
