Finance

SEC is scrutinizing SPAC projections, seeks clearer disclosures

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Saul Loeb | AFP | Getty Images

The SEC is eyeing potentially misleading earnings projections made by SPAC sponsors and is seeking clearer disclosures, with one official hinting Thursday that the agency may issue a future rule to rein them in.

Special purpose acquisition companies, known as SPACs or blank-check funds, are a hot-ticket item on Wall Street.

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The investments are like quasi-IPOs. A publicly traded shell company uses investor money to buy or merge with a private company, typically within two years. In…



Source cnbc.com

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