10 Jun 2025
📉Proposed Trading Suspension for Noncompliant SPACs by NYSE American
Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the NYSE American Company Guide To Specify That the Exchange Will Immediately Suspend Trading in Any SPAC That Becomes Subject to Delisting for Failure To Complete a Business Combination Within the Required Period
Summary
The NYSE American has proposed a rule change to immediately suspend trading for any special purpose acquisition company (SPAC) that fails to complete a business combination within 36 months of its IPO registration. This change aims to enhance investor protection and provide clear delisting provisions for non-compliant SPACs.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed rule change mandates immediate suspension of trading for SPACs failing to complete a business combination within 36 months. This affects business owners and executives involved with SPACs regarding compliance and listing standards, signaling the need for timely business strategies.