SPAC Developments: SEC Amendments to SPAC IPO and de-SPAC Related Rules

In 2022, the SEC proposed significant amendments to the rules and forms addressing the treatment of special purpose acquisition companies (“SPACs”) in connection with their initial public offerings (“IPOs”) and subsequent de-SPAC transactions. The proposed amendments were quite controversial and had a chilling effect on the SPAC market and resulted in changes to market practice. On January 24, 2024, the SEC met to consider the adoption of final rules, which, market participants hope will take into account concerns raised by commenters.

During this session hosted by PLI, Mayer Brown partners will discuss:

• The key differences between the proposed rules and final rules
• Conflicts of interest, dilution, and fairness disclosures in connection with SPAC transactions
• Alignment of disclosures for de-SPAC transactions with those for traditional IPOs
• Projections disclosures
• Financial statement and other disclosure matters
• Underwriter liability
• Key takeaways and practical considerations

For more information, visit the event website.