SEC Derailed Circle’s Plans to Go Public via SPAC Deal: Report Halts Solana USDC and USDT Deposits, Withdrawals

“The business combination could not be consummated before the expiration of the transaction agreement because the SEC had not yet declared our S-4 registration ‘effective’,” the group said. An S-4 registration is a registration document that companies have to file with the SEC seeking permission to offer new shares, the report added.

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