Special purpose acquisition companies, or SPACs, have been on fire since 2020. After an average of only 23 SPAC IPOs between 2003 and 2019, 308 SPACs have gone public so far in 2021, representing 76% of all IPOs year-to-date.

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Regulatory warnings from the Financial Industry Regulatory Authority (FINRA) and the U.S. Securities and Exchange Commission (SEC) have recently doused the SPAC market, leaving investors, their counsel and accountants worldwide wondering what’s next for these blank check companies.

In Law360, StoneTurn Partners Julie Copeland and Ellen Graper assess recent regulatory advisories about SPACs and offer proven accounting review and due diligence insights to help mitigate risks.

As the co-authors, both financial industry experts, point out: “…now is the time to assess whether that seemingly high-return SPAC is likely to lead to enforcement actions or a costly dispute further down the line.”

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About the Authors

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Ellen Graper

Ellen Graper, a Partner at StoneTurn, has almost 20 years of experience assisting accounting firms navigate regulatory and industry requirements. Her expertise draws from her tenure as both an accounting […]

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