Regulators look at SPAC conflicts

摘要

Financial regulators on both sides of the Atlantic are tightening their scrutiny of special purpose acquisition companies in an effort to avoid adverse investor losses as the flurry of vehicles that have floated over the past year now seek deals.The US Securities and Exchange Commission last week charged stable road, a SPAC, and others linked to its listing with making misleading claims ahead of a US$1.1bn proposed transaction in October. Also charged were the target company, space travel developer Momentus, its sponsor SRC-NI, and two executives.The SEC said claims the company could generate US$4bn of revenues by 2027 as its technology had already been tested in space were not true. It also said investors were not made aware that chief executive Mikhail Kokorich had been deemed a security risk by US government authorities.