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Compared with a normal IPO filing, a SPAC filing with the regulator is:

ALess legal
BLess lawful
CLess liquid
DLess complex
Answer & Solution
Correct answer: D. Less complex
1. The only asset is the cash raised. 2. There is little business history to disclose. 3. So the filing is less complex. _Source: OpenStax Principles of Finance, Chapter 12, US Financial Markets._
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