News — Ipo

s SPACs may be flying high, but risks lie beneath the surface. As reported in The Wall Street Journal on Thursday (April 8),  John Coates, acting director at the Securities and Exchange Commission's corporate finance unit, warned of “some significant and yet undiscovered issues” with SPACs. Coates made his comments at a legal conference on Wednesday (April 7), saying that the issues include “relatively as yet incompletely worked through mechanisms, despite the fact [SPACs] have been around for a while,” but noting that those issues would not stop SPAC deals and listings. Though Coates did not elaborate on his concerns,...