Metromile takes $14mn charge on SPAC accounting rule change
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Metromile takes $14mn charge on SPAC accounting rule change

Bernard Goyder
May 18, 2021
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Metromile has been forced by an accounting change to restate its past financial disclosure, thus delaying the release of its Q1 results, following a ruling by the Securities and Exchange Commission (SEC) that reclassified warrants placed with investors as debt, rather than equity.

As a result of the rule change, announced by the SEC last month, Metromile will recognize a $14mn to $15mn charge for 2020.

The

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Bernard Goyder
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