On April 22, 2026, the Securities and Exchange Commission (“SEC”) filed notice soliciting comments in connection with proposed rules filed April 15, 2026 (SR-NASDAQ-2026-033) by The Nasdaq Stock Market LLC (“Nasdaq”) to raise certain initial listing requirements for special acquisition companies (“SPACs”). The principal change is to raise the size thresholds for initial listing under Nasdaq Listing Rule 5405 (The Nasdaq Global Market Initial Listing Requirements and Standards for Primary Equity Securities)and Listing Rule 5505 (The Nasdaq Capital Market Initial Listing Requirements for Primary Equity Securities).
Source: Nasdaq Proposes Higher Initial Listing Requirements for SPACs