Board Diversity
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Frequently Asked Questions
  How does Nasdaq's Board Diversity Rule apply to SPACs?
Identification Number 1762
SPACs listed under IM-5101-2 are exempt from Nasdaq’s Board Diversity Rule until they de-SPAC. They are not required to provide board diversity disclosure information or to have, or disclose that they do not have, any minimum number of diverse directors until their business combination.  Following the business combination, such companies have one year to publicly disclose board-level statistics. Companies must meet, or explain why they do not meet, the diverse director objective by the phase-in periods described in Rule 5605(f)(5). 
Publication Date*: 1/16/2023 Mailto Link Identification Number: 1762
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