On January 24, 2024, the U.S. Securities and Exchange Commission (SEC) adopted final rules relating to special purpose acquisition companies (SPACs) and de-SPAC transactions. While the final rules substantially track the rules originally proposed in March 2022, the SEC elected not to adopt two provisions that had received significant attention and changed market behavior. The final rules also modified the SEC’s guidance and requirements for the inclusion of projections in all SEC filings by both SPAC and non-SPAC issuers.
SEC Adopts Final Rules Regarding Special Purpose Acquisition Companies and De-SPAC Transactions
Attorney Advertising—Sidley Austin LLP is a global law firm. Our addresses and contact information can be found at www.sidley.com/en/locations/offices.
Sidley provides this information as a service to clients and other friends for educational purposes only. It should not be construed or relied on as legal advice or to create a lawyer-client relationship. Readers should not act upon this information without seeking advice from professional advisers. Sidley and Sidley Austin refer to Sidley Austin LLP and affiliated partnerships as explained at www.sidley.com/disclaimer.
© Sidley Austin LLP
- Capital Markets
- Corporate Governance
- Private Equity
- Banking and Financial Services
- Emerging Companies and Venture Capital
- Investment Funds
- Securities Enforcement and Regulatory
- Securities and Shareholder Litigation
- Automotive and Mobility
- Global Finance
- Special Purpose Acquisition Companies (SPACs)
- Financial Institutions