QuantumScape Announces Response to SEC Guidance Applicable to Warrants Issued by Special Purpose Acquisition Companies (“SPACs”)

QuantumScape is announcing that as a result of recent guidance provided by the SEC on April 12, 2021 regarding the accounting and reporting of warrants issued by SPACs, it will restate its consolidated financial statements as of and for the year ended December 31, 2020 to change the accounting treatment of its public and private placement warrants.

Brilliant Acquisition Corporation: New SEC Guidance Relating to SPAC Warrants, Its Effect on the Company’s Periodic Filings and Compliance with Nasdaq Rules

Brilliant Acquisition Corporation announced today that, as the result of the SEC’s recent guidance, released on April 12, 2021 relating to the accounting treatment of certain warrants issued in connection with SPAC issuers, that the Company is conducting an analysis of the effect of the SEC’s guidance (if any) on the accounting treatment of its warrants.

Webinar: Key Takeaways: SPACs and How to Plug into the Opportunities They Present in Renewable Energy and Green Infrastructure

McDermott Will & Emery partners Tom Conaghan and Carl Fleming and Nicole Neeman Brady, CEO and director of the renewable energy SPAC, Sustainable Development Acquisition I Corp, discussed the rise of special purpose acquisition companies (SPACs), the opportunities they present in renewable energy and in the transition to green infrastructure and the complex legal and business challenges these vehicles present.