Alberton Acquisition Corporation receives Nasdaq extension to complete merger with SolarMax Technology, Inc.
05 1월 2022 - 9:30PM
On January 3, 2022, Alberton Acquisition Corp. (the “Company”)
received notice from the Nasdaq Office of General Counsel that a
Nasdaq Hearings Panel (the “Panel”) had granted the Company’s
request to continue its listing on Nasdaq through March 14, 2022
(the “Extended Date”). As previously reported, the Company received
notice from the Listing Qualifications Department (“Staff”) of The
Nasdaq Stock Market LLC (“Nasdaq”) stating that unless the Company
timely requested a hearing before the Panel, the Company’s
securities (common stock, warrants, units and rights) would be
subject to suspension and delisting from The Nasdaq Capital Market
due to the Company’s non-compliance with Nasdaq IM-5101-2, which
requires that a special purpose acquisition company must complete
one or more business combinations within 36 months of the
effectiveness of its IPO registration statement. The Company timely
requested a hearing before the Panel and the hearing was held on
December 16, 2021. The Panel’s decision is subject to certain
conditions, including that the Company will have completed its
previously announced proposed business combination (the “Business
Combination”) with SolarMax Technology, Inc. (“SolarMax”) on or
before the Extended Date and that the combined company will have
demonstrated compliance with all applicable requirements for
initial listing on Nasdaq.
As previously announced, the Company has entered
into a binding definitive agreement to merge with SolarMax. The
Company filed its most recent amendment to the Proxy
Statement/Registration Statement on Form S-4 (the “S-4”) for the
merger on December 13, 2021. The Company intends to mail the S-4 to
shareholders promptly following completion of the Securities and
Exchange Commission review process and to hold the shareholder
meeting at which it will seek approval for the Business Combination
as soon as possible.
In the event that the Company does not complete
the Business Combination by the Extended Date or fails to
demonstrate compliance with the Nasdaq initial or continued listing
rules, the Company’s securities would be subject to suspension on
Nasdaq, absent an additional extension.
About Alberton
Alberton is a British Virgin Islands blank check
company, also commonly referred to as a Special Purpose Acquisition
Company, or SPAC, formed for the purpose of effecting a merger,
asset acquisition or other business combination with one or more
businesses or entities. Alberton’s units, ordinary shares and
warrants are currently listed on the Nasdaq Capital Market under
the symbols “ALACU,” “ALAC” and “ALACW, respectively.
About
SolarMax
SolarMax, a Nevada corporation, is an integrated
solar energy company. Its principal executive offices are located
at 3080 12th Street, Riverside, California 92507. SolarMax’ website
is http://www.solarmaxtech.com. Any information contained on, or
that can be accessed through, SolarMax’ website or any other
website is not a part of this press release.
Additional Information about the
Proposed Business Combination and Where to Find It
Alberton filed with the SEC a registration
statement on Form S-4 (file no. 333-251825) with a proxy statement
containing information about the proposed business combination and
the respective businesses of Alberton and SolarMax Technology,
Inc., a Nevada corporation (“SolarMax”). Alberton
will mail a final prospectus and definitive proxy statement and
other relevant documents after the SEC completes its review.
Alberton and SolarMax shareholders are urged to read the
preliminary prospectus and proxy statement and any amendments
thereto and the final prospectus and definitive proxy statement in
connection with the solicitation of proxies for the special
meetings to be held to approve the proposed transaction, because
these documents will contain important information about Alberton,
SolarMax and the proposed transaction. The final prospectus and
definitive proxy statement will be mailed to shareholders of
Alberton and SolarMax as of a record date to be established for
voting on the proposed transaction. Shareholders will also be able
to obtain a free copy of the proxy statement, as well as other
filings containing information about Alberton without charge, at
the SEC’s website (www.sec.gov) or by calling 1-800-SEC-0330.
Copies of the proxy statement and other filings with the SEC can
also be obtained, without charge, by directing a request to:
Alberton Acquisition Corporation, Room 1001, 10/F, Capital Center,
151 Gloucester Road, Wanchai, Hong Kong.
Cautionary Note Regarding Forward-Looking
Statements
This press release includes "forward-looking
statements" that involve risks and uncertainties that could cause
actual results to differ materially from what is expected. Words
such as "expects", "believes", "anticipates", "intends",
"estimates", "seeks", "may", "might", "plan", "possible", "should"
and variations and similar words and expressions are intended to
identify such forward-looking statements, but the absence of these
words does not mean that a statement is not forward-looking. Such
forward-looking statements relate to future events or future
results, based on currently available information and reflect
Alberton management's current beliefs. A number of factors could
cause actual events or results to differ materially from the events
and results discussed in the forward-looking statements. In
addition, please refer to the “Cautionary Note Regarding
Forward-Looking Statements,” “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” sections of Alberton’s Form S-4, its Annual Reports on
Form 10-K, its Quarterly Reports on Form 10-Q for additional
information identifying important factors that could cause actual
results to differ materially from those anticipated in the forward
looking statements. Except as expressly required by applicable
securities law, Alberton disclaims any intention or obligation to
update or revise any forward looking statements whether as a result
of new information, future events or otherwise.
Company Contact:
Gateway Group, Inc.ALAC@gatewayir.com
Alberton Acquisition (NASDAQ:ALACW)
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Alberton Acquisition (NASDAQ:ALACW)
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부터 6월(6) 2023 으로 6월(6) 2024