Michael Birnbaum spoke to Law360 about the Securities and Exchange Commission's (SEC) proposed rules governing special-purpose acquisition companies (SPACs), billed as an effort to harmonize regulations with those for traditional initial public offerings.
"This has the potential to impose real costs in diligence and potential litigation costs that could slow down SPACs a little bit, though much will depend on definitions I hope will be clarified in the adoption process, such as when one qualifies as an underwriter," Michael said.
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Originally Published by Law360
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