Item 8.01. Other Events
On April 12, 2021, the Division of Corporate Finance and the Office of the Chief
Accountant of the Securities and Exchange Commission (the "SEC") released a
"Staff Statement on Accounting and Reporting Considerations for Warrants Issued
by Special Purpose Acquisition Companies" informing market participants that
warrants issued by special purpose acquisition companies may require
reclassification as a liability of the entity measured at fair value, with
changes in fair value each period reported in earnings. Advent Technologies
Holdings, Inc. (the "Company") has previously classified its private warrants,
working capital warrants and public warrants as equity. The Company is
currently reviewing the statement by the SEC and determining its impact. It
could result in changes to the Company's classification of the warrants on its
balance sheet.
Forward-Looking Statements
This Current Report on Form 8-K includes forward-looking statements. These
forward-looking statements generally can be identified by the use of words such
as "anticipate," "expect," "plan," "could," "may," "will," "could," "believe,"
"estimate," "forecast," "goal," "project," and other words of similar meaning.
These forward-looking statements address various matters including the Company's
analysis of the classification of its warrants. Each forward-looking statement
contained in this Current Report on Form 8-K is subject to risks and
uncertainties that could cause actual results to differ materially from those
expressed or implied by such statement. Applicable risks and uncertainties
include, among others, the risks identified under the heading "Risk Factors" in
our Annual Report on Form 10-K, and filed with the Securities and Exchange
Commission, as well as the other information we file with the SEC, including
filings on Current Reports on Form 8-K. We caution investors not to place
considerable reliance on the forward-looking statements contained in this
Current Report on Form 8-K. You are encouraged to read our filings with the
SEC, available at www.sec.gov, for a discussion of these and other risks and
uncertainties. The forward-looking statements in this Current Report on Form 8-K
speak only as of the date of this document, and we undertake no obligation to
update or revise any of these statements. Our business is subject to
substantial risks and uncertainties, including those referenced above.
Investors, potential investors, and others should give careful consideration to
these risks and uncertainties.
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