On January 24, 2024, the U.S. Securities and Exchange Commission (SEC) adopted final rules relating to special purpose acquisition companies (SPACs) and de-SPAC transactions. While the final rules substantially track the rules originally proposed in March 2022, the SEC elected not to adopt two provisions that had received significant attention and changed market behavior. The final rules also modified the SEC’s guidance and requirements for the inclusion of projections in all SEC filings by both SPAC and non-SPAC issuers.
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