US Securities & Exchange Commission’s Small Business Capital Formation Advisory Committee Meeting

During its September 2021 meeting, the US Securities & Exchange Commission’s (SEC) Small Business Capital Formation Advisory Committee discussed different pathways for businesses to go public, including mergers with special purpose acquisition companies (SPACs). On March 30, 2022, the Commission proposed rules on SPACs, shell companies, and projections, which would require, among other things, additional disclosures about SPAC sponsors, conflicts of interest, and sources of dilution. This press release includes a fact sheet highlighting the areas covered by the proposed rules.

Staff from the SEC’s Division of Corporation Finance will provide an overview of the proposed SPAC rules, and then the Committee will hear from Mayer Brown partner, Anna Pinedo, who advises companies in financing transactions on implications and impacts the proposed rules may have on small businesses if finalized.

See more on the SEC’s website.