Boston Omaha Corporation Announces Form 12b-25 Filing Relating to Changes in Accounting for Yellowstone Acquisition Company
18 Maio 2021 - 10:15AM
Business Wire
- No Changes Anticipated in Financial Results for Boston
Omaha Corporation's Core Business and Investments (other than
Yellowstone Acquisition Company)
- To Restate 2020 Financial Statements to Include Yellowstone
Acquisition Company Financial Statements in Consolidated Financial
Statements and Incorporate Changes in Accounting for Yellowstone
Warrants Following Recent Statement on Accounting for Warrants in
SPACs
Boston Omaha Corporation (NASDAQ: BOMN) (“Boston Omaha”
or the “Company”) today announced it has timely filed a Form
12b-25, Notification of Late Filing, with the U.S. Securities and
Exchange Commission (“SEC”) relating to the Company’s report on
Form 10-Q for the period ended March 31, 2021. The Company expects
to file the report within the five-day extension period provided by
Rule 12b-25. In discussion with KPMG LLP, its independent
registered public accounting firm, the Company has determined that
it must consolidate the financial statements of Yellowstone
Acquisition Company (“Yellowstone”), a publicly-traded special
purpose acquisition company, in which the Company serves as
sponsor. As a result, the Company needs to complete the restatement
of its financial results for 2020 to reflect this consolidation.
The Company expects to be able to soon thereafter file its Form
10-Q for the quarter ended March 31, 2021. The Company anticipates
filing a Form 8-K with further details of the restatement later
today.
About Boston Omaha Corporation
Boston Omaha Corporation is a public holding company with three
majority owned businesses engaged in outdoor advertising, surety
insurance and broadband telecommunications services. The Company
also maintains minority investments, including investments in a
bank, a national residential homebuilder and commercial real estate
services businesses and Yellowstone Acquisition Company.
Forward-Looking Statements
Certain statements made herein are “forward-looking statements”
within the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words and phrases such
as “will”, “may”, “should”, “future”, “promptly”, “expect”,
“estimate”, “anticipate,” “intends”, “plans”, “subject to”, and
“change” and other similar expressions that predict or indicate
future events or trends or that are not statements of historical
fact. Such statements may include, but are not limited to,
statements regarding the Company’s intent to restate certain
historical financial statements and the timing of the restatement
and the Company’s statements regarding its anticipated results of
operations for the quarterly period ended March 31, 2021. These
statements are based on current expectations on the date hereof and
involve a number of risks and uncertainties that may cause actual
results to differ significantly. These forward-looking statements
are not guarantees of future performance, conditions or results,
and involve a number of known and unknown risks, uncertainties,
assumptions and other important factors, including without
limitation the completion of the Company’s quarterly review
procedures, many of which are outside the Company’s control, that
could cause actual results or outcomes to differ materially from
those discussed in the forward-looking statements. The Company does
not assume any obligation to update or revise any such
forward-looking statements, whether as the result of new
developments or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210518005760/en/
Boston Omaha Corporation Catherine Vaughan 617-875-8911
cathy@bostonomaha.com
Boston Omaha (NASDAQ:BOMN)
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