Section 1 Short title
This Act may be cited as the “Holding SPACs Accountable Act of 2021”.
Holding SPACs Accountable Act of 2021
A BILL
To amend the Securities Act of 1933 and the Securities Exchange Act of 1934 to exclude certain special purpose acquisition companies from safe harbor for forward-looking statements, and for other purposes.
Sec. 2 Certain special purpose acquisition companies excluded from safe harbor for forward-looking statements
in subsection (b)(1)(B), by striking “a blank check company” and inserting “a development stage company that has no specific business plan or purpose or has indicated that its business plan is to acquire or merge with an unidentified company, entity, or person”; and
in subsection (i)(7), by striking ““blank check company”,”.
Securities Exchange Act of 1934— Section 21E of the Securities Exchange Act of 1934 (15 U.S.C. 78u–5) is amended—
in subsection (b)(1)(B), by striking “a blank check company” and inserting “a development stage company that has no specific business plan or purpose or has indicated that its business plan is to acquire or merge with an unidentified company, entity, or person”; and
in subsection (i)(5), by striking ““blank check company”,”.