SEC Slaps SPAC for Hiding Preliminary M&A Talks: Lessons for Other Public Companies

On January 25, 2024, the SEC announced the settlement of cease-and-desist proceedings against Northern Star Investment Corp. II, a special purpose acquisition company (SPAC). The SEC alleged that the company failed to disclose preliminary negotiations with a company in its prospectus and falsely disclosed that it had not identified any potential targets or engaged in substantive discussions.
Source: SEC Slaps SPAC for Hiding Preliminary M&A Talks: Lessons for Other Public Companies