Edoc Acquisition Corp. Receives Expected Notice from Nasdaq Regarding Delayed Annual Report
22 Aprile 2021 - 11:25PM
Edoc Acquisition Corp. (NASDAQ: ADOC) (the “Company”) announced
today that it received a notice (“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) (the “Rule”) because the Company failed to timely
file its Annual Report on Form 10-K for the year ended December 31,
2020 (the “Form 10-K”) with the Securities and Exchange Commission
(“SEC”). The Notice has no immediate effect on the listing or
trading of the Company’s securities on the Nasdaq Capital Market.
As previously disclosed in the Current Report on Form 8-K filed
on April 15, 2021 by 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 (“SPAC”) such as the Company. The Company is
continuing to evaluate its financial statements for the year ended
December 31, 2020 to determine whether its public and private
warrants may be required to be accounted for as liabilities, rather
than equity, in its Form 10-K. The Company is working diligently to
finalize the financial statements and to file the Form 10-K as soon
as practicable.
Under Nasdaq rules, the Company has 60 calendar days from the
date of the Notice, or until June 15, 2021, to submit a plan to
regain compliance with the Rule. If Nasdaq accepts the Company's
plan, then Nasdaq may grant an exception of up to 180 calendar days
from the due date of the Form 10-K, or until October 12, 2021, to
regain compliance.
About Edoc Acquisition Corp.
Edoc Acquisition Corp. is a blank check company organized for
the purpose of effecting a merger, share exchange, asset
acquisition, share purchase, recapitalization, reorganization, or
other similar business combination with one or more businesses or
entities. It intends to focus on businesses primarily operating in
the healthcare sector in North America and Asia-Pacific.
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 regarding
possible business combinations and the financing thereof, and
related matters, as well as all other 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:
Edoc Acquisition Corp.7612 Main Street FishersSuite 200Victor,
NY 14564Attention: Kevin Chen
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