LightJump Acquisition Corporation Receives Notice from Nasdaq Related to Delayed Filing of its Quarterly Report on Form 10-Q
02 Giugno 2021 - 1:00PM
Business Wire
LightJump Acquisition Corporation (NASDAQ: LJAQ) (the “Company”)
received on May 28, 2021 a notice (the “Notice”) from The Nasdaq
Stock Market LLC (“Nasdaq”) indicating that, as a result of not
having timely filed its Quarterly Report on Form 10-Q for the
quarter ended March 31, 2021 (the “Form 10-Q”), the Company is not
in compliance with Nasdaq Listing Rule 5250(c)(1), which requires
timely filing of all required periodic financial reports with the
Securities and Exchange Commission (“SEC”).
The Notice has no immediate impact on the listing of the
Company’s securities, which will continue to trade on Nasdaq,
subject to the Company’s compliance with the other continued
listing requirements of Nasdaq. Under the Nasdaq Listing Rules, the
Company has 60 calendar days from the date of the Notice to file
the Form 10-Q. If the Company is unable to file the Form 10-Q with
the SEC by July 27, 2021, the Company intends to submit a plan to
regain compliance with the Nasdaq Listing Rules on or prior to that
date. If Nasdaq accepts the plan, Nasdaq can grant the Company an
exception of up to 180 calendar days from the due date of the Form
10-Q, or until November 22, 2021, to regain compliance. However,
there can be no assurance that Nasdaq will accept the Company’s
plan to regain compliance or that the Company will be able to
regain compliance within any extension period granted by Nasdaq. If
the Company fails to timely regain compliance with Nasdaq’s listing
rules, the common stock of the Company will be subject to delisting
on the Nasdaq Capital Market.
As previously disclosed by the Company, the Company is currently
evaluating the accounting treatment of its warrants based on
guidance from the SEC staff issued in a public statement on April
12, 2021 that highlighted the potential accounting implications of
certain terms that may be common in warrants included in special
purpose acquisition company transactions and discussed related
financial reporting considerations. The Company is determining what
effects such guidance will have, if any, on the Form 10-Q. The
Company plans to file the Form 10-Q as soon as practicably
possible.
Forward-Looking Statements
This press release 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. All 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,”
“estimate,” “expect,” “intend” and similar expressions, as they
relate to the Company or its 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 SEC. All subsequent
written or oral forward-looking statements attributable to the
Company or persons acting on its 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 relating to 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.
About LightJump Acquisition Corporation
LightJump Acquisition Corporation is a blank check company
formed for the purpose of entering into a merger, share exchange,
asset acquisition, stock purchase, recapitalization, reorganization
or other similar business combination with one or more businesses
or entities, which the Company refer to as a “target business.” The
Company's efforts to identify a prospective target business will
not be limited to a particular industry or geographic region
although it intends to initially focus on technology and technology
enabled businesses that directly or indirectly offer specific
technology solutions or broader technology software and
services.
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version on businesswire.com: https://www.businesswire.com/news/home/20210602005401/en/
Robert M. Bennet Chief Executive officer
rbennett@lightjumpcapital.com
Grafico Azioni LightJump Acquisition (NASDAQ:LJAQ)
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