SPAC Industry Fears SEC’s Rules Could Finish Off Ailing Market
- Investors, bankers waited nearly two years for final version
- SPAC market may be “grievously” wounded by decision: professor
The Securities and Exchange Commission headquarters in Washington, DC
Photographer: Samuel Corum/BloombergThis article is for subscribers only.
Regulators are set to end a nearly two-year wait for the final rules around US special-purpose acquisition companies, and observers are warning that the battered industry could be effectively shuttered after having wiped out billions for investors.
The Securities and Exchange Commission will vote on the proposals in a meeting today, potentially capping the fallout from the pandemic-era deal spree by imposing more scrutiny and higher costs on deals.