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Frequently Asked Questions
  Must a Special Purpose Acquisition Company ("SPAC") hold an annual meeting?
Identification Number 1417

Yes. A SPAC is subject to all of Nasdaq's governance requirements, including the requirement of Nasdaq Listing Rule 5620 and IM-5620 to hold an annual meeting no later than one year after the end of the Company's fiscal year-end. At the meeting, shareholders must be afforded the opportunity to discuss Company affairs with management and, if required by the Company's governing documents, to elect directors.

A Nasdaq-listed company, including a SPAC, may hold a virtual annual meeting, provided that is permissible under the relevant state law. However, it is important that shareholders attending such a meeting have the opportunity to ask questions of management. See this related FAQ #84.

A newly listing SPAC does not have to hold a meeting during the year its lists and must hold its first meeting within one-year after its first fiscal year-end following listing. See this related FAQ #86.

Publication Date*: 8/18/2017 Mailto Link Identification Number: 1417
material_search_footer*The Publication Date reflects the date of first inclusion in the Reference Library, which was launched on July 31, 2012, or a subsequent update to the material. Material may have been previously available on a different Nasdaq web site.
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