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Vertiv to Restate 2020 Statements Due to SEC’s SPAC Guidance

April 22, 2021, 9:41 PM

Vertiv doesn’t expect an impact on previously reported non-GAAP operating metrics for 2020 or 2021.

  • Expects to recognize incremental 2020 non-operating expense of $140m-$160m
  • Says there will be no impact on previously reported net cash flow
  • NOTE: Vertiv in Dec. 2019 agreed to a combination with GS Acquisition Holdings
  • NOTE: SPAC’s Restatement Is First Prompted by SEC’s Accounting Warning

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To contact the reporter on this story:
Jim Silver in New York at jsilver@bloomberg.net

To contact the editor responsible for this story:
Maria Jose Valero at mvalero3@bloomberg.net

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