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SPACs Are Bonds, Actually | Louis Camhi
Forward Guidance
The SEC's Decision to Change the Rules for SPACs
Some of those are perhaps spec sponsors incentivized that because they have to find a deal otherwise they don't get paid. The SEC came out and basically said, we are going to get change the rules for SPACs. There's this weird dynamic where in an IPO you are not allowed to disclose projections in your documents, but an merger you are. And so since a SPAC is considered a merger, you were able to give projections. So now you're getting a lot less.
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