Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On April 19, 2022, Itiquira Acquisition Corp. (the "Company") received a letter
(the "Nasdaq Letter") from the Nasdaq Stock Market ("Nasdaq") notifying the
Company that it had violated Nasdaq Listing Rule 5250(c)(1) because the Company
had not yet filed its Annual Report on Form 10-K for the period ended December
31, 2021 (the "2021 Annual Report") with the Securities and Exchange Commission
(the "SEC"). As previously disclosed on March 31, 2022 on Form 12b-25, the 2021
Annual Report could not be filed by its March 31, 2022 deadline without
unreasonable effort and expense because the Company's auditor was in the process
of completing the audit of the financial statements.
In its letter, Nasdaq stated that the Company had until June 20, 2022 to submit
a plan to regain compliance. If Nasdaq accepted the Company's plan, it could
then grant an exception of up to 180 calendar days from the Annual Report's due
date, or until October 12, 2022, to regain compliance. If Nasdaq did not accept
the Company's plan, the Company would have had the opportunity to appeal that
decision to a Nasdaq Hearings Panel and to request a further stay pending the
appeal. Nasdaq's letter has had no immediate effect on the listing or trading of
the Company's common stock on the Nasdaq Capital Market.
The Company is actively working with its auditors and advisors, and intends to
file its 2021 Annual Report as soon as possible to regain compliance.
On April 25, 2022, the Company issued a press release regarding receipt of the
Nasdaq Letter. The press release is attached as Exhibit 99.1 to this Current
Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Title
99.1 Press Release, dated April 25, 2022.
104 Cover Page Interactive Data File-the cover page XBRL tags are
embedded within the Inline XBRL document.
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