Axios Pro Rata: SPACs attacked
Plus, there's gold in them thar Russia. | Thursday, March 31, 2022 Open in app View in browser Presented By Latham & Watkins Axios Pro Rata By Dan Primack · Mar 31, 2022 🚨 Next week we're launching Axios Crypto , a daily newsletter authored by Brady Dale. Sign up here . Top of the Morning Illustration: Annelise Capossela/Axios The SEC yesterday began installing traffic lights on the SPAC freeway, more than a year after it was first warned about the likelihood of crashes. Flashback: The SEC Investor Advisory Committee held a meeting on the SPAC boom. As we reported , a top issue was how SPAC sponsors and their target companies have safe harbor protections for long-term projections that are not afforded to traditional IPO issuers. In short, the discrepancy let SPAC t...