On January 24, 2024, the U.S. Securities and Exchange Commission (the “SEC”) adopted new rules and amendments to existing rules and forms (the “Final Rules”) addressing (i) the treatment under the securities laws of special purpose acquisition companies (“SPACs”) in connection with their initial public offerings (“IPOs”) and their subsequent business combination transactions (“de-SPAC transactions”) with target operating companies; (ii) business combinations with shell companies; and (iii) presentation of projections in SEC filings. The SEC had issued proposed rules (“Proposed Rules”) on March 30, 2022.