FinTech Evolution Acquisition Group Announces Receipt of Notice from the New York Stock Exchange Regarding Late Filing of Qua...
03 6월 2021 - 6:19AM
FinTech Evolution Acquisition Group (NYSE: FTEV) (the
“Company”) today announced that it has received a notice (“Notice”)
from the NYSE Regulation staff of the New York Stock Exchange (the
"NYSE") as a result of its failure to file its Quarterly Report on
Form 10-Q for the quarter ended March 31, 2021 (the "Form 10-Q") in
a timely fashion. The Notice advised the Company that it was not in
compliance with the NYSE's continued listing requirements under the
timely filing criteria established in Section 802.01E of the NYSE
Listed Company Manual.
As reported by the Company in its Form 12b-25 filed with the
Securities and Exchange Commission (the "SEC") on May 17, 2021, the
Company was unable to file its Form 10-Q within the prescribed time
period without unreasonable effort or expense. The extension period
provided under Rule 12b-25 expired on May 24, 2021. The Company was
unable to meet the filing deadline for its Form 10-Q due to the
Company’s evaluation of whether its outstanding warrants should be
accounted for as a liability and the scope and process for updating
the Company’s financial statements accordingly.
The NYSE has informed the Company that, under the NYSE's rules,
the Company will have six months from the filing due date (May 24,
2021) to file its Form 10-Q with the SEC. The Company can regain
compliance with NYSE listing standards during this six-month period
when the Company files its Form 10-Q with the SEC. During the
six-month period, the NYSE will closely monitor the status of the
Company's late filing and related public disclosures. If the
Company fails to file its Form 10-Q within such six-month period,
the NYSE may, in its sole discretion, allow the Company's units,
warrants and ordinary shares to trade for up to an additional six
months depending on specific circumstances, as outlined in the
rule. If the NYSE determines that an additional six-month trading
period is not appropriate, suspension and delisting procedures will
commence. If the NYSE determines that an additional trading period
of up to six months is appropriate and the Company fails to file
its Form 10-Q and any subsequent delayed filings by the end of that
period, suspension and delisting procedures will generally
commence. Regardless of the procedures described above, the NYSE
may commence delisting proceedings at any time during the period
that is available to complete the filing, if circumstances
warrant.
As noted above, the Company is working diligently to complete
its Form 10-Q. The Company intends to file the Form 10-Q as soon as
practicable to regain compliance with NYSE continued listing
standards.
No assurance can be given that the Company will be able to
regain compliance with the aforementioned listing requirement or
maintain compliance with the other continued listing requirements
set forth in the NYSE Listed Company Manual.
About.
FinTech Evolution Acquisition Group is a blank check
company formed for the purpose of effecting a merger, share
exchange, asset acquisition, share purchase, reorganization or
similar business combination with one or more businesses. While the
Company may pursue an initial business combination target in any
business or industry, it intends to focus its efforts on Financial
Technology and technology-enabled services (“FinTech”) businesses
that offer specific technology solutions, broader technology
software, or services/products to the financial services
industry.
Forward-Looking Statements
This press release may include, and oral statements made from
time to time by representatives of the Company 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. 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,” “continue,” “could,” “estimate,”
“expect,” “intend,” “may,” “might,” “plan,” “possible,”
“potential,” “predict,” “project,” “should,” “would” and similar
expressions, as they relate to us or our 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 Securities and Exchange
Commission (“SEC”). All subsequent written or oral forward-looking
statements attributable to us or persons acting on our 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 for 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.
Contact:
Rohit Bhagat650.739.6741rohit@fintechevolution.net
FinTech Evolution Acquis... (NYSE:FTEV.U)
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FinTech Evolution Acquis... (NYSE:FTEV.U)
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