WHITE PLAINS, N.Y.,
June 4, 2021 /PRNewswire/ --
Fortistar Sustainable Solutions Corp. (Nasdaq: FSSI) (the
"Company") received on May 28, 2021 a
notice (the "Notice") from The Nasdaq Stock Market LLC ("Nasdaq")
indicating that, as a result of not having timely filed Form 10-Q
for the period ended March 31, 2021
(the "Form 10-Q"), the Company is not in compliance with Nasdaq
Listing Rule 5250(c)(1), which requires timely filing of all
required periodic financial reports with the Securities and
Exchange Commission ("SEC").
The Notice has no immediate impact on the listing of the
Company's securities, which will continue to trade on Nasdaq,
subject to the Company's compliance with the other continued
listing requirements of Nasdaq. Under the Nasdaq Listing Rules, the
Company has 60 calendar days from the date of the Notice to submit
a plan to regain compliance. If Nasdaq accepts the plan, Nasdaq can
grant the Company an exception of up to 180 calendar days from the
due date of the Form 10-Q to regain compliance.
The Company is currently evaluating the accounting treatment of
its warrants based on guidance from the SEC staff issued in a
public statement on April 12, 2021
that highlighted the potential accounting implications of certain
terms that may be common in warrants included in special purpose
acquisition company transactions and discussed related financial
reporting considerations. The Company is determining what effects
such guidance will have, if any, on the Form 10-Q. The Company
plans to file the Form 10-Q as soon as practicably possible.
Forward Looking Statements
This press release may include "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements other than statements of historical fact
included in this press release are forward-looking statements. When
used in this press release, words such as "anticipate," "believe,"
"estimate," "expect," "intend" and similar expressions, as they
relate to the Company or its management team, identify
forward-looking statements. Such forward-looking statements are
based on the beliefs of management, as well as assumptions made by,
and information currently available to, the Company's management.
Actual results could differ materially from those contemplated by
the forward-looking statements as a result of certain factors
detailed in the Company's filings with the SEC. All subsequent
written or oral forward-looking statements attributable to the
Company or persons acting on its behalf are qualified in their
entirety by this paragraph. 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 and prospectus relating to the
Company's initial public offering filed with the SEC. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Investor Contact:
Fortistar Sustainable Solutions Corp.
1 North Lexington Ave.
White Plains, NY
T: 914-421-4900
IR@fortistar.com
Media Relations:
ChamberlaynePR
charles@chamberlaynePR.com
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SOURCE Fortistar Sustainable Solutions Corp.
