SPAC Deals Come to Halt Amid SEC Crackdown

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Traders work on the floor of the New York Stock Exchange (NYSE) on Friday.Spencer Platt / Staff | Get­ty ImagesS­PAC mania has come to a screech­ing halt.Just last month, spe­cial pur­pose acqui­si­tion com­pa­nies cel­e­brat­ed a head-turn­ing mile­stone by break­ing their 2020 issuance record in just three-mon­th’s time. After more than 100 new deals in March alone, issuance is near­ly at a stand­still with just 10 SPACs in April, accord­ing to data from SPAC Research.The dras­tic slow­down came after the Secu­ri­ties and Exchange Com­mis­sion issued account­ing guid­ance that would clas­si­fy SPAC war­rants as lia­bil­i­ties instead of equi­ty instru­ments. If it becomes law, deals …

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