About Social Leverage Acquisition Corp I
Social Leverage Acquisition Corp I focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Scottsdale, Arizona. Address: 8390 East Via de Ventura, Scottsdale, AZ, United States, 85258
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On April 12, 2021, the Acting Director of the Division of Corporation Finance and Acting Chief Accountant of the U.S. Securities and Exchange Commission (the "SEC") together issued a statement regarding the accounting and reporting considerations for warrants issued by special purpose acquisition companies entitled "Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (‘SPACs’)" (the "SEC Staff Statement"). As previously disclosed, given the scope of the process for determining the appropriate accounting treatment of its outstanding warrants in accordance with the SEC Staff Statement and Accounting Standards Codification ("ASC") 815-40, Derivatives and Hedging: Contracts in an Entities Own Equity, Social Leverage Acquisition Corp I (the "Company") was unable to complete and file its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021 (the "Form 10-Q") by the required due date without unreasonable effort and expense.
Social Leverage Acquisition Corp I (NYSE: SLAC.U) (the "Company") today announced that, commencing April 5, 2021, holders of the units sold in the Company’s initial public offering of 34,500,000 units completed on February 17, 2021 may elect to separately trade the shares of Class A common stock and redeemable warrants included in the units. Those units not separated will continue to trade on the New York Stock Exchange ("NYSE") under the symbol "SLAC.U," and the shares of Class A common stock and redeemable warrants that are separated will trade on NYSE under the symbols "SLAC" and "SLAC WS," respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into shares of Class A common stock and redeemable warrants.