Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
As previously disclosed in the Form 12b-25 filed on May 17, 2021 by Healthcare
Capital Corp. (the "Company"), on April 12, 2021, the staff (the "Staff") of the
Division of Corporation Finance of the SEC issued a statement entitled "Staff
Statement on Accounting and Reporting Considerations for Warrants Issued by
Special Purpose Acquisition Companies" (the "Staff Statement"). The Staff
Statement, among other things, highlighted the potential accounting implications
of certain terms that are common in warrants issued in connection with the
initial public offerings of special purpose acquisition companies such as the
Company. As a result of the Staff Statement, the Company required additional
time to evaluate its financial statements for the quarter ended March 31, 2021
and did not timely file its Quarterly Report on Form 10-Q for the quarter ended
March 31, 2021 (the "Form 10-Q").
On May 28, 2021, the Company received a notice (the "Notice") from the Listing
Qualifications Department of The Nasdaq Stock Market ("Nasdaq") stating that the
Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it has
not timely filed the Form 10-Q with the SEC.
On June 1, 2021, the Company filed the Form 10-Q and Nasdaq subsequently
withdrew the Notice and the associated obligation of the Company to issue a
press release to announce receipt of the Notice.
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