Frederick R. Cummings, Jr., Managing Partner, and Jordan Kohn, attorney, advised the seller on the recent sale of the Rye Record, a well-read, long-established local publication in Westchester County, New York. The sale enables this local newspaper to continue publication.

by Jordan Kohn and Brian Daughney

Big changes may be on the horizon for special purpose acquisition companies (“SPACs”). The Securities and Exchange Commission (SEC) voted on Wednesday, March 30, 2022, to propose new rules for SPACs which, if adopted, would require SPACs to provide increased investor disclosures focused primarily on their ownership and performance forecasts. The proposed rules and amendments are designed to enhance disclosure and investor protection in initial public offerings (IPOs) by SPACs and in business combination transactions involving shell companies, such as SPACs, and private operating companies.