Simon Property SPAC to Restate Some Financial Statements

Simon Property Group Acquisition Holdings will restate certain financial statements, citing the terms of possible redemption of Class A common stock.

• “The Company’s management has concluded that during the period covered by the Q3 Form 10-Q, the Company’s disclosure controls and procedures were not effective due to a material weakness in internal control over financial reporting related to the Company’s inability to properly account for complex financial instruments,” company says in filing
• Company does not expect impact on cash position and cash held in trust account established in connection with IPO
• NOTE: SPACs Headed for New Wave of Restatements for ...