SEC Adopts New Rules and Amendments for SPACs, Shell Companies and Projections

On January 29, 2024, Cravath prepared a memo for its clients entitled “SEC Adopts New Rules and Amendments for SPACs, Shell Companies and Projections.” The memo examines the U.S. Securities and Exchange Commission’s recently adopted rules and amendments to enhance disclosures and provide additional investor protections in connection with initial public offerings by special purpose acquisition companies and in subsequent business combination transactions between SPACs and target companies. The memo outlines the new requirements related to forward‑looking statements and projections, compliance dates, key takeaways for companies and more.

Please click here to read the memo.