SPAC IPO application and allotment rules require disclosed allocation methods and timely completion of allotment, payments, and refunds. SPAC initial public offerings require a minimum application size of USD 100,000. Allotments may be made on a proportionate or discretionary basis, ... Summary
SPAC IPO application and allotment rules require disclosed allocation methods and timely completion of allotment, payments, and refunds.
SPAC initial public offerings require a minimum application size of USD 100,000. Allotments may be made on a proportionate or discretionary basis, provided the selected basis is disclosed in the offer document. Issuers and lead managers must complete allotment of specified securities and related payments and refunds within eight working days after issue closure. The completion period was amended from five to eight working days.
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