Item 1.02 Termination of a Material Definitive Agreement
As previously reported on a Current Report on Form 8-K filed on
On
The Termination also terminates and makes void the Support Agreement (as defined in the Business Combination Agreement) and the Sponsor Letter Agreement (as defined in the Business Combination Agreement), which were executed concurrently with the Business Combination Agreement.
The foregoing descriptions of the Business Combination Agreement, the Support
Agreement and the Sponsor Letter Agreement do not purport to be complete and are
qualified in their entirety by the terms and conditions of, respectively, (i)
the Business Combination Agreement, a copy of which was previously filed as
Exhibit 2.1 to the Company's Current Report on Form 8-K on
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Standard?
Transfer of Listing.
On
The Notice has no immediate effect on the listing of the Company's Class A
common stock on Nasdaq and, in accordance with Nasdaq Listing Rule
5810(c)(3)(C), the Company will have 180 calendar days, or until
If the Company does not regain compliance by
There can be no assurance that the Company will be able to regain compliance with the MVLS requirement or maintain compliance with the other Nasdaq listing requirements. The Company is actively monitoring the MVLS of its Class A common stock and is considering options available to it to regain compliance.
Certain information contained in this report consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that are difficult to predict. Words such as "will," "would," "may," "intends," "potential," and similar expressions, or the use of future tense, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Such forward-looking statements are not guarantees of performance and actual actions or events could differ materially from those contained in such statements. For example, there can be no assurance that the Company will regain compliance with the MVLS Rule during any compliance period or in the future, or otherwise meet Nasdaq compliance standards, that the Company will be eligible for a second compliance period, or that Nasdaq will grant the Company any relief from delisting as necessary or that the Company can ultimately meet applicable Nasdaq requirements for any such relief. The forward-looking statements contained in this report speak only as of the date of this report and the Company undertakes no obligation to publicly update any forward-looking statements to reflect changes in information, events or circumstances after the date of this report, unless required by law.
Item 8.01 Other Events.
On
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits Exhibit Number Description 99.1 Press Release, datedJune 22, 2023 . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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