Yellowstone Acquisition Company announced that the company will restate its 2020 financial statements as filed in its Annual Report on Form 10-K to account for recent changes in accounting for warrants issued by SPACs.
U.S. Bank is rolling out new solutions for special purpose acquisition companies (SPACs), including segregated trust accounts for SPAC proceeds, statements and secure reporting of activity, and more, according to a press release.
SPAC mania has come to a screeching halt. Just last month, special purpose acquisition companies celebrated a head-turning milestone by breaking their 2020 issuance record in just three-month’s time.
But the burger brand said its delay in filing its 10-K form is due to new reporting requirements for SPACs and that it will get its paperwork in on time.