> There is still a simple solution to the "SPAC problem" - don't let them list.
OK - but how are you going to discriminate between SPACs and other c-corps? I don't think a porn style "I know it when I see it" test is going to work here.
It’s actually pretty easy, no? A SPAC has requirements that it has to meet - no operating business, only nominal assets, a limited period of time in which it must transact.
But like another poster observed, not letting a SPAC list completely obviates the sole purpose of a SPAC (which I personally think would be an excellent outcome).
OK - but how are you going to discriminate between SPACs and other c-corps? I don't think a porn style "I know it when I see it" test is going to work here.