'Conflicts of interest': SEC charges Perceptive Advisors over SPAC dealings, settles for $1.5M penalty
While the SPAC market continues to oscillate between inked deals, nixed agreements and pulled IPOs, one investment advisor will have to pony up $1.5 million to the SEC for what the agency deemed “conflicts of interest” related to blank check dealings.
Perceptive Advisors, the 23-year-old New York investment advisory firm which touts $9.5 billion in assets under management, has set up multiple special purpose acquisition companies under the name Arya Sciences Acquisition Corp., with I, II, III and IV stapled on at the end. Arya V, which went public in July 2021 and has yet to announce a business merger, was not mentioned by the SEC.
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