Posts
September 30 2021
Scooter Braun’s SPAC, Beau Wrigley’s pot firm Parallel call off merger
Cannabis producer Parallel and media industry executive Scooter Braun-backed Ceres Acquisition Corp have mutually terminated their $1.88 billion merger agreement, the blank-check company said on Thursday.
www.reuters.com
September 28 2021
EXCLUSIVE U.S. SEC cracks down a second time on SPAC equity accounting treatment – sources
Expanding its crackdown on the SPAC sector, the U.S. Securities and Exchange Commission has told top auditors of blank-check acquisition companies to account more strictly for public shares in these shells, according to multiple industry accountants and lawyers familiar with the change.
www.reuters.com
September 28 2021
Higher-quality SPAC sponsors must emerge for once red-hot space to turn around
SPACs are getting a much-needed reality check as investors and regulators grow wary of the Wall Street craze, and the majority of deals could have a hard time surviving with time running out.
www.cnbc.com
September 27 2021
Hong Kong’s planned SPAC rules could give it an edge in attracting Chinese tech, biotech firms
Hong Kong’s proposed listing rules for special purpose acquisition companies (SPACs) could give it extra firepower in the race to attract Chinese new economy companies and biotechnology firms, according to deal makers and market observers.
www.finance.yahoo.com
September 27 2021
Analysis: Europe’s IPO market roars back to life but where are the SPACs?
European stock market listings have come back with a bang after the summer lull but blank cheque firms are nowhere to be seen.
www.reuters.com
September 27 2021
Leonardo DiCaprio-Backed Polestar Valued at $20 Billion in SPAC Deal
Polestar, the electric-vehicle maker backed by Volvo Car Group and actor Leonardo DiCaprio, agreed to go public through a merger with a blank-check company at a roughly $20 billion enterprise valuation.
www.bloomberg.com
September 24 2021
Client Alert: Update To Mask Requirements Under NY Hero Act
As per our previous Client Alert, the NY HERO Act required all employers to implement and distribute a Prevention Plan that would apply to future infectious disease outbreaks, and then on September 6, 2021, NY Governor Hochul announced that the requirements of the HERO Act would now apply to COVID-19.
Click here to read the alert.
September 23 2021
Elizabeth Warren and Democrats Are Going After SPAC Kingpins
Elizabeth Warren and other Senate Democrats are targeting some of the biggest names behind SPACs, questioning whether the once red-hot market will trigger outsized losses for retail investors.
www.yahoo.finance.com