On January 24, 2024, the SEC approved—in a three-to-two vote along party lines—a final rule increasing disclosures for special purpose acquisition companies (SPACs) for initial public offerings (IPOs) and business combinations with private operating companies (de-SPAC transactions). This article provides details on the rule, which would better align requirements for de-SPAC transactions and IPOs and enhances investor protections. The rule also covers shell companies and projections.
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