Popular With Retail Investors, Shell Companies That Raise Capital Through Own IPOs Can Be Risky The Financial Industry Regulatory Authority (FINRA) has started a thorough examination of the activities of brokerage firms in relation to special purpose acquisition companies (SPACs). These shell companies raise funds through their own IPOs…
Penalties of Over $8M Imposed on Stable Road Acquisition Company and Others The Securities and Exchange Commission (SEC) filed fraud charges against special purpose acquisition company (SPAC) Stable Road Acquisition Company and its CEO Brian Kabot. The company’s sponsor SRC-NI, proposed merger target Momentus Inc., and the latter’s ex-CEO Mikhail…
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