SHLL - Blank check stocks tumble as SEC plans greater scrutiny

"One of the areas in the SPAC space that I'm particularly focused on is the incentives and compensation to the SPAC sponsors," SEC Chairman Jay Clayton told CNBC."There are two steps. One is the initial (equity) distribution of the SPAC to the market and the other is when the transaction takes place with the operating company. In both those situations, we expect the disclosure to be such that the investor can understand all of those motivations.""We want to make sure they're getting the same rigorous disclosure that you get in bringing an IPO to market."Related: [[DPHC]] -15.2%, [[GRAF]] -12.5%, [[FMCI]] -8.6%, [[OPES]] -7.4%, [[SPAQ]] -5.7%; [[LCA]] -5.1%, [[SHLL]] -6.9%.

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Blank check stocks tumble as SEC plans greater scrutiny