WARWICK — The third time was indeed the charm for the East Providence High School Unified Basketball League squad as the locals captured the 2023 Division II championship Saturday morning, May …
EAST PROVIDENCE The East Providence High School Unified Basketball League squad never trailed en route to a 30-22 victory over visiting North Kingstown in the semifinals of the Division II …
An investor in space tourism enterprise Virgin Galactic has launched a proposed class action claiming that the company failed to explain the classification of certain investment instruments after it combined with a special purpose acquisition company in October 2019.
(Bloomberg) Virgin Galactic Holdings Inc. was sued by an investor who claims he lost money when the space-tourism company announced that it would restate its results due to regulatory guidance about the accounting treatment of warrants.The Las Cruces, New Mexico-based company said on April 30 that it would have to restate its 2020 results because of accounting guidance of regulators related to special purpose acquisition companies, or SPACs. The next trading day, its shares fell 9%. The company combined with Social Capital Hedosophia, run by former Facebook executive Chamath Palihapitiya, and went public in October 2019.The Securities and Exchange Commission set forth new guidance in April that warrants, which are issued to early investors in the deals, might not be considered equity instruments and may instead be liabilities for accounting purposes. In a SPAC, early investors buy units, which typically includes a share of common stock and a fraction of a warrant to purchase more sto