Jumping on the current SPAC bandwagon, CII has agreed to be acquired by a celebrity-owned, solar powered aviation company (SPAC) and will change its name to the Council of J. Lo. While “Jenny from the block” is the largest single investor, others sponsoring the acquiring entity include A-Rod (if reconciled), Shaq, Cher, Sting and Madonna.
Sen. Sherrod Brown (D-Ohio) and Del. Michael San Nicholas (D-Guam) this week introduced resolutions, in the Senate and House, respectively, to rescind amendments to the shareholder proposal rules the SEC approved in September.
CII sent a letter to the SEC April 1 expressing general support for the Nasdaq’s amended proposed listing standards on disclosure of board diversity and recommending that the SEC approve them.
The International Brotherhood of Teamsters sent a letter to Marathon Petroleum’s shareholders March 29 urging them to vote at the company’s April 28 annual meeting against management’s say-on-pay proposal and for a shareholder proposal asking the company to adopt pro-rata vesting of equity awards in the event of a change in control.
In what may be viewed as an expression of concern about the recent boom in special purpose acquisition companies (SPACs), the SEC issued two directives on filing requirements, financial reporting and auditing considerations for these entities.
More than a year and a half after WeWork failed in its attempt to go public at a $47 billion valuation, the co-working unicorn announced plans to make its public debut through a merger with special purpose acquisition company (SPAC) BowX Acquisition.
Deliveroo’s highly anticipated IPO on the London Stock Exchange fell flat when it launched March 31 after several large U.K. asset managers declined to invest in the company, citing concerns over its dual-class stock structure and treatment of workers.
The staff of the Financial Accounting Standards Board just published an educational paper to provide investors and other interested parties with an overview of the intersection of environmental, social and governance (ESG) matters with financial accounting standards.