|Quite frankly, I am not sure about the pre-closing disclosure requirements for the PIPE investors. After all, they are not actual investors until the deal closes. It may be that there are no disclosure requirements. The following is from an analysis of the proposed SEC regulations pertaining to the SPACs: |
The draft suggests the SEC require disclosure “of the identity and relationship of PIPE investors, and whether any side payments are to be made to certain shareholders as an inducement not to redeem their shares;”
The names of all of the PIPE investors would be disclosed when the shares are registered, which generally occurs shortly after the close of the transaction.