Vinson & Elkins' Comment Letter Regarding SEC's Proposed Rules for Special Purpose Acquisition Companies (“SPACs”)

On March 30, 2022, the commissioners of the Securities and Exchange Commission (“SEC”) approved much-anticipated proposed rules relating to special purpose acquisition companies (“SPACs”). The proposed rules cover a wide range of topics, including expanding underwriter liability for disclosures in connection with De-SPAC transactions, target company and officer and director liability for such disclosures and expanding and revising disclosure requirements applicable to SPAC IPOs and de-SPAC transactions.