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This program provides a comprehensive examination of special purpose acquisition companies (SPACs) and the various business, legal, SEC reporting and accounting considerations that must be addressed in each phase of the SPAC’s finite, but fast paced and complex life cycle. Discussion will begin with how SPAC transactions are used as a vehicle for private companies to raise capital and become publicly traded. The pros and cons of a SPAC transaction versus a traditional IPO will be reviewed. Discussion will then proceed through the life cycle of a SPAC, starting with the SPAC’s sponsors and their formation of the SPAC legal entity, which is essentially a shell corporation with no operations, through the SEC registration process where the shell corporation becomes a public company in an IPO transaction that then searches for a private company acquisition target, resulting in the acquisition target becoming the publicly traded company. Our expert faculty will address the various legal, accounting and SEC reporting challenges in each phase of this unique life cycle.
What You Will Learn
- The business purpose and rise in use of SPACs
- Legal issues in SPAC formation
- SPAC IPO transaction process
- Accounting and SEC reporting considerations
- Identification of an acquisition target
- SEC reporting for the acquisition process
- Accounting for the acquisition transaction
- Accounting and SEC reporting after the acquisition
Program Level: Overview
Intended Audience: SEC reporting professionals, including lawyers and corporate legal staff, professionals involved in the preparation and review of financial statements, partners of public accounting firms and their staff, investor relations professionals, and audit committee members
Prerequisites: We recommend some prior experience with the SEC reporting process and use of the Instructions to Forms and Regulations S-K and S-X.
Advanced Preparation: None