As we discussed in our posting at the end of 2020, “SEC Focus on SPACs“, special purpose acquisition companies (SPACs) have become an important investment vehicle and source of M&A activity and the focus of heightened attention from the SEC staff. SPAC transactions include initial public offerings and business combinations.
Read MoreSpecial purpose acquisition companies (SPACs) have become an important investment vehicle and source of M&A activity. SPAC transactions include initial public offerings and business combinations.
Read MoreThe Delaware Supreme Court, on March 18, 2020, in Salzberg v. Sciabacucchi, reversed the decision of the Court of Chancery and upheld the validity of a forum selection provision in the certificate of incorporation of a Delaware corporation requiring claims under the Securities Act of 1933 to be brought in federal courts.
Read MoreThe Securities and Exchange Commission, on September 26, 2019, adopted the expanded testing-the-waters relief it proposed in February. The JOBS Act permitted emerging growth companies (EGCs) to test the waters prior to or after filing a registration statement.
Read MoreLate last month we blogged about rule amendments adopted by the Securities and Exchange Commission that are intended to modernize and simplify disclosure requirements for public companies, including an amendment that allows registrants to redact confidential information from most exhibits without filing a confidential treatment request.
Read MoreOn February 15, 2019, Nasdaq filed an immediately effective rule proposal to permit “direct listings” without an IPO and, in doing so, joins the NYSE, whose proposal to permit direct listings was approved by the SEC in February 2018.
Read MoreOn February 19, 2019, the Securities and Exchange Commission published a rule proposal entitled “Solicitations of Interest Prior to a Registered Public Offering”[1] that would extend the “test-the-waters” provisions of Section 5(d) of the Securities Act of 1933 (the Act), currently available only to emerging growth companies (EGCs), to all issuers of registered securities.
Read MoreLocke Lord recently hosted in our Houston office a program titled “Produced Water Disposal – The Next Big Wave in E&P” as part of its High Noon Knowledge Series.
Read MoreOn August 17, 2017, the Securities and Exchange Commission (“SEC”) updated its guidance with respect to interim financial information that issuers may omit from draft registration statements.1
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