Adit EdTech Acquisition Corp. Announces Receipt of Notice of Late Filing From NYSE
28 Maio 2021 - 5:31PM
Business Wire
Adit EdTech Acquisition Corp. (the “Company”) announced today it
that received a notice from the New York Stock Exchange (the
“NYSE”) indicating that the Company is not in compliance with
Section 802.01E of the NYSE Listed Company Manual as a result of
its failure to timely file its Quarterly Report on Form 10-Q for
the quarter ended March 31, 2021 (the “Form 10-Q”) with the
Securities and Exchange Commission (the “SEC”).
The NYSE informed the Company that, under NYSE rules, the
Company will have six months from May 24, 2021 to file the Form
10-Q with the SEC. The Company can regain compliance with the NYSE
listing standards at any time prior to that date by filing its Form
10-Q. If the Company fails to file the Form 10-Q before the NYSE’s
compliance deadline, the NYSE may grant, at its sole discretion, an
extension of up to six additional months for the Company to regain
compliance, depending on the specific circumstances. The notice
from the NYSE also notes that the NYSE may nevertheless commence
delisting proceedings at any time if it deems that the
circumstances warrant.
As the Company previously reported in its Form 12b-25 filed with
the SEC on May 18, 2021, on April 12, 2021, the SEC issued “Staff
Statement on Accounting and Reporting Considerations for Warrants
Issued by Special Purpose Acquisition Companies” (the “Staff
Statement”). As a result of the Staff Statement, the Company’s
management is reevaluating the accounting treatment of the (i)
redeemable warrants that were included in the units issued by the
Company in its initial public offering, and (ii) the redeemable
warrants that were issued in a private placement. The Company is
continuing to review the impacts of the Staff Statement on the
Company’s unaudited financial statements for the quarterly period
ended March 31, 2021 and is working diligently to complete the Form
10-Q as soon as practicable with the intention of regaining
compliance.
About Adit EdTech Acquisition Corp.
Adit EdTech Acquisition Corp. is a newly organized blank check
company incorporated in Delaware for the purpose of effecting a
merger, share exchange, asset acquisition, share purchase,
reorganization or similar business combination with one or more
businesses.
Our sponsor, Adit EdTech Sponsor, LLC, a Delaware limited
liability company, is an affiliate of Adit Ventures, LLC, a
Delaware limited liability company, an investment adviser whose
principals have combined investment experience of over 150 years
and a track record of value creation in portfolio companies
operating in the public markets. While we may pursue an acquisition
opportunity in any business industry or sector, we intend to focus
our search for target businesses in the education, training and
edtech industries.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
on January 11, 2021. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
The offering was made only by means of a prospectus. Copies of
the prospectus relating to the offering may be obtained from
EarlyBirdCapital, Inc., 366 Madison Avenue, 8th Floor, New York, NY
10017, Attn: Syndicate Department, 212-661-0200.
Forward Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the
Company’s search for an initial business combination.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company’s registration
statement for the initial public offering filed with the SEC.
Copies are available on the SEC’s website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210528005476/en/
Adit EdTech Acquisition Corp.: John J. D’Agostino Chief
Financial Officer dagostino@aditedtech.com
Adit EdTech Acquisition (NYSE:ADEX.U)
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