Just a day before the deadline, Betsy Cohen’s Spock Company, a well-known figure in the Spacs market in the United States, informed the SEC that the parties would not be able to fulfill the terms of the deal on time, and therefore postponed its deadline to June 30, 2022. To $ 8.8 billion and the amount of PIPE raised to $ 441 million. The report shows that in the last three months Ituro has filed four different amendments to its registration statements (F4), but these as stated do not satisfy the SEC.
Two issues in Ituro’s activities raise difficulties in obtaining approval from the SEC. First, Ituro has over the years become a platform where there is a significant focus of cryptocurrency trading. This device is today considered a security and not a currency, and therefore requires a number of other behaviors and rules from Ituru. Second, Ituro, founded in 2007 by June Asia, allows users to automatically copy the trades and trades of other users, veteran opinion leaders on the platform – this unique approach to trading not as a recommendation but as a copy produces extraordinary complexity.
Ituro said in response: “Market conditions have changed since we announced our March merger process, and have been reflected in a moderate reduction in our valuation. Our investors and management believe confidently and even enthusiastically in Ituro’s strong growth forecasts and its unique global offering.”
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