Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

SPAC market resurfaces, SEC taps law professor to run unit that reviews SPACs, Hims & Hers buys Honest Health, and India plans to build framework for SPACs

SPAC IPO Market Slowly Resurfaces With Play-It-Safe Accounting

The blank-check companies that captivated Wall Street for a year are playing it safe with their accounting as the market slowly recovers from a financial reporting crackdown that halted IPOs.

The majority of the almost three dozen SPACs that went public since the SEC’s market-jolting accounting announcement in mid-April are sticking to what they know: the same investor terms and incentives they used prior to the SEC’s warning, according to Bloomberg Tax.

The upshot is that SPACs may not want warrants with terms that make them report the money-raising incentives as liabilities on their balance sheets, but no one wants to be an outlier, said Angela Veal, managing director at Eisner Amper LLP.

SEC Gets New Leader To Review SPACs

SEC Chair Gary Gensler’s leadership team is taking shape with law professor Renee Jones being tapped to run the unit that reviews blank-check companies and will work on rules for corporations’ climate disclosures.

Jones, who taught courses at Boston College Law School, will head the SEC’s division of corporation finance, according to a Monday statement.

Her appointment is a departure from the agency’s typical practice of naming a corporate lawyer to run the unit, which examines filings for IPOs and SPACs. Jones is also the first Black woman to lead one of the SEC’s four major divisions.

Telehealth Company Hims & Hers to Buy U.K.’s Honest Health

Telehealth company Hims & Hers Health Inc. said late Monday it has agreed to buy London-based health platform Honest Health for an undisclosed amount. Honest Health offers hair loss-related products, including access to compounded products.

“The proposed transaction provides Hims & Hers with best-in-class operational capability and infrastructure to support the beginnings of the company’s long-term plans for expansion” across the U.K. and western Europe, Hims and Hers said in a statement to Market Watch.

The deal is expected to close in the second fiscal quarter of this year, the company said. Shares of Hims and Hers fell 0.6% in the extended session Monday after ending the regular trading day up 5.7%. The stock began trading in January after a merger with a SPAC.

As Indian Startups Explore SPACs Abroad, SEBI Considers Framework To Promote Domestic Listings

India’s securities and market regulator the Securities and Exchanges Board of India (SEBI) plans to build a dedicated framework on SPACs to allow such ‘non-operational’ entities to also raise funds in initial share sales and list locally, according to reports. Currently, SEBI allows listing of only operational companies with reported financials.

To allow SPACs in India, SEBI has to either introduce a separate law or amend current regulations to allow listing of ‘non-operating’ or ‘investment’ companies, industry officials aware of the development told ET.