SEC Chairman to Testify on SPAC Issues in House Committee Today

Realized and unrealized losses on the SPAC portfolio reached 75% at the end of September, or about $333 million, according to an analysis of Palantir’s latest accounts. The red ink may have increased since then.

NYSE President Stacey Cunningham said SPACs can expect increased regulation and calls for transparency amid heightened scrutiny from the SEC, Bloomberg reports.

The companies are discussing a transaction that could be announced in coming weeks, and that may give the combined entity an enterprise value of $1 billion to $1.2 billion.

The EV maker was hit last year with 11 class action lawsuits.