SEC SPAC Proposal

On March 30, 2022, the SEC voted 3-1 (Commissioner Peirce dissenting) to propose a package of rules and rule amendments governing special purpose acquisition companies (SPACs), SPAC initial public offerings (IPOs) and SPAC mergers with a target company (de-SPACs).

Part of the proposed amendments would also apply to any shell company business combination, whether or not a SPAC is involved.

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