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points form the article:

- SPAC transactions come to a halt amid SEC crackdown, cooling retail investor interest

- After a record of 109 new SPAC deals in March alone, issuance has now come to almost a standstill with just 10 SPACs in April, according to data from SPAC Research.

- The SEC issued accounting guidance that would classify SPAC warrants as liabilities instead of equity instruments.

- Bank of America’s client flows showed that retail SPAC buying slowed down significantly.

- The proprietary CNBC SPAC Post Deal Index has wiped out 2021 gains and fallen more than 20% year-to-date.

- SPACs would have to go back and recalculate their financials in 10-Ks and 10-Qs for the value of warrants each quarter.

- huge blow to the SPAC market as it could take away the incentives for sponsors and operating companies to opt for this alternative IPO vehicle — low level of scrutiny and the ability to move quickly

- 90% of SPACs are audited by just two accounting firms over the past six years, Marcum and WithumSmith+Brown, according to SPAC Research

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