Nasdaq Proposes Listing Standards for SPACs

February 28, 2008
The Nasdaq Stock Market, Inc. (“Nasdaq”) has announced that it intends to adopt listing standards for special purpose acquisition companies (“SPACs”). Under the Nasdaq proposal, which still must be approved by the SEC before becoming effective, SPACs would be required to comply with the initial listing standards applicable to all operating companies listed on Nasdaq as well as additional SPAC-specific requirements. This article explains the Nasdaq proposal and its expected effect.