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Key points

Reverse listings provide an alternative way for management teams and sponsors to take companies public. This can be achieved in a number of ways.
One of these ways is via a special purpose acquisition company (‘SPAC’). A SPAC raises capital through an initial public offering (‘IPO’) with the intention of acquiring a private operating company or group (‘OpCo’). Where the OpCo is acquired by a publicly traded SPAC, it effectively becomes a public company without executing its own IPO.
SPAC transactions present a number of challenges. This In depth highlights several of the financial reporting and accounting considerations and our responses to frequently asked questions on the SPAC merger process.
We plan to update this In depth as additional guidance and financial reporting or accounting considerations are identified.
What's inside:
  1. Background
  2. SPAC overview and lifecycle
  3. Accounting considerations - SPAC Formation and IPO
  4. Accounting considerations of the SPAC merger
  5. Considerations following the SPAC merger
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