Prospector Capital Corp. Receives Nasdaq Notice Regarding Delayed Form 10-Q Filing
01 Giugno 2021 - 12:00PM
Prospector Capital Corp. (Nasdaq: PRSR) (the “Company”) today
announced that it received a notice from the Listing Qualifications
Department of the Nasdaq Stock Market LLC (“Nasdaq”) indicating
that the Company is not in compliance with Nasdaq Listing Rule
5250(c)(1) as a result of its failure to timely file its Quarterly
Report on Form 10-Q for the quarter ended March 31, 2021 (the “Q1
2021 Form 10-Q”) with the Securities and Exchange Commission (the
“SEC”) on or before May 24, 2021, the extended period provided for
the filing under Rule 12b-25(b) of the Securities Exchange Act of
1934, as amended. The notice has no immediate effect on the listing
or trading of the Company’s units, ordinary shares or warrants on
Nasdaq.
Nasdaq has informed the Company that, under
Nasdaq’s listing rules, the Company has 60 calendar days from the
date of the initial Nasdaq notification letter, or until
July 26, 2021, to file the Q1 2021 Form 10-Q with the SEC to regain
compliance with Nasdaq’s continued listing requirements. If the
Company is unable to file the Q1 2021 Form 10-Q with the SEC by
July 26, 2021, the Company is permitted to submit a plan to regain
compliance with Nasdaq’s listing rules on or prior to that
date.
As the Company reported in its Form 12b-25 filed
with the SEC on May 18, 2021, the Company is currently determining
the extent to which the April 12, 2021 statement released by the
Staff of the SEC relating to the accounting and reporting
considerations for warrants issued by special purpose acquisition
companies (“SPACs”) will impact its financial statements as of and
for the fiscal quarter ended March 31, 2021, which will be included
in the Q1 2021 Form 10-Q.
The Company is working diligently to complete
the Q1 2021 Form 10-Q and expects to file such report as soon as
practicable.
Cautionary Note Concerning
Forward-Looking Statements
This press release contains certain
forward-looking statements, including without limitation the
Company’s current expectations and intentions with respect to the
filing of its Q1 2021 Form 10-Q. These forward-looking statements,
which are included in accordance with the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995, may involve
known and unknown risks, uncertainties and other factors that may
cause the Company's actual results and performance in future
periods to be materially different from any future results or
performance suggested by the forward-looking statements in this
press release. Although the Company believes such forward-looking
statements are based upon reasonable assumptions, it can give no
assurance that actual results will not differ materially from these
expectations, including the length of time that may be required for
the Company to complete its procedures and file the Q1 2021 Form
10-Q, and the Company disclaims any duty to update any
forward-looking statements made by the Company. From time to time,
these risks, uncertainties and other factors are discussed in the
Company's filings with the SEC.
Contact
Derek AberleProspector Capital Corp.(858) 480-9390
Grafico Azioni Prospector Capital (NASDAQ:PRSRW)
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