Navigating the enforcement and risks of SPACs

Legal executives in North America are invited to join this virtual roundtable on “Navigating the enforcement and risks of SPACs”. It is a great opportunity to learn more about the exponential, high-profile growth in special purpose acquisition companies, how the SEC has responded, and what it means for the industry at large.

The session will start with key takeaways from experts in the field, understanding shifts in liability. Participants will also examine recommended steps to take in response to these changes, particularly a review of accounting for warrants and an evaluation of whether a restatement is required.

An expert moderator will guide the knowledge-sharing event, stimulating discussion between attendees in a closed, confidential environment. Attendance is by invitation only and complimentary, and registration is limited to a certain number of guests per event.

Navigating the enforcement and risks of SPACs

Despite its initial caution toward special purpose acquisition companies (SPACs), the Securities and Exchange Commission (SEC) has shifted gears in recent weeks. Various sectors now look to SPACs as an emerging enforcement priority, tackling their associated risks with newfound interest.

SPAC growth has been aggressive. Reports have shown they raised $83 billion throughout 2020 and $26 billion in January 2021 alone. Coupled with the SEC’s change of tone, these developments mark heightened enforcement and litigation risks for the future of these shell corporations.

• How do SPACs fare in terms of disclosure risks under federal securities laws compared to a traditional IPO?
• What role does the Private Securities Litigation Reform Act (PSLRA) play in a de-SPAC transaction?
• How can organizations determine whether corrective measures are necessary to adapt?