Spac spat probe hits wall of silence
Floyd Wittlin, a partner with US law firm Bingham McCutchen, says that an increasing number of Spacs are seeking to list on the UK’s Alternative Investment Market. His firm advised on the first listing of a Spac on the London junior market at the beginning of October. The company, International Metal Enterprises, raised $201 million in its Aim IPO. Wittlin says more such listings are on the way as Spacs become frustrated with the regulatory requirements in the US put in place by the SEC and legislation such as the Sarbanes-Oxley Act.
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