ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø

On April 12, 2021, the OCA and DFC staff issued a Ìý³Ù³ó²¹³Ù:

• Addresses certain accounting considerations for warrants issued by SPACs, focusing on two specific accounting considerations:
  • Indexation: An equity-linked financial instrument (or embedded feature) must be considered indexed to an entity’s own stock to qualify for equity classification
  • Tender offer provisions: Identification of warrants that have provisions that may lead to settlement in cash
• Discusses filing and other considerations if the registrant and auditor determine that there is an error in previously filed financial statements related to this issue

• Focuses on legal liability associated with ‘de-SPACâ€� transactions and the presentation of projections in registration and/or proxy statements

On March 31, 2021, the OCA issued a broad discussing:

• Market and timing considerations
• Financial reporting considerations
• Internal control considerations
• Corporate governance and audit committee considerations
• Auditor considerations

On March 31, 2021 the DCF staff issued a Ìý»å¾±²õ³¦³Ü²õ²õ¾±²Ô²µ:

• Shell company restrictions on filing and other matters
• Books and records and internal controls requirements
• Initial listing standards of national securities exchanges