Social Capital Hedosophia Holdings Corp. VI Receives Expected Notice from the NYSE Regarding Delayed Filing of Quarterly Report
28 Mayo 2021 - 4:32PM
Business Wire
On April 12, 2021, the Acting Director of the Division of
Corporation Finance and Acting Chief Accountant of the U.S.
Securities and Exchange Commission (the “SEC”) together issued a
statement regarding the accounting and reporting considerations for
warrants issued by special purpose acquisition companies entitled
“Staff Statement on Accounting and Reporting Considerations for
Warrants Issued by Special Purpose Acquisition Companies (‘SPACs’)”
(the “SEC Staff Statement”). As previously disclosed, given the
scope of the process for determining the appropriate accounting
treatment of its outstanding warrants in accordance with the SEC
Staff Statement and Accounting Standards Codification (“ASC”)
815-40, Derivatives and Hedging: Contracts in an Entities Own
Equity, Social Capital Hedosophia Holdings Corp. VI (“the Company”)
was unable to complete and file its Quarterly Report on Form 10-Q
for the fiscal quarter ended March 31, 2021 (the “Form 10-Q”) by
the required due date without unreasonable effort and expense.
On May 25, 2021, the Company received a notice (the “Notice”)
from the New York Stock Exchange (the “Exchange”) indicating that,
as a result of not having timely filed the Form 10-Q with the SEC,
the Company is not in compliance with Section 802.01E of the NYSE
Listed Company Manual (the “Listing Rule”). The Listing Rule
requires listed companies to timely file all required periodic
reports with the SEC.
The Notice indicated that the Company can regain compliance with
the Exchange’s listing standards at any time prior to November 24,
2021 by filing the Form 10-Q. If the Company fails to file the Form
10-Q by such date, the Exchange may grant, at its sole discretion,
an extension for the Company to regain compliance, depending on the
specific circumstances. The Notice also stated that the Exchange
may nevertheless commence delisting proceedings at any time if it
deems that the circumstances warrant.
While the Company can provide no assurances as to timing, the
Company plans to file the Form 10-Q as soon as practicably
possible, and no later than November 24, 2021, and regaining
compliance with the Listing Rule.
Forward-Looking Statements
This press release includes “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, including relating to the filing of the
10-Q, 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 Annual Report on Form 10-K, as it may be amended,
filed with the SEC. Copies of such filings are available on the
SEC’s website, www.sec.gov. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210528005502/en/
Social Capital Hedosophia Holdings Corp. VI Sara Evans / Kerry
Golds Finsbury Glover Hering sara.evans@fgh.com /
kerry.golds@fgh.com +1.917.344.9279 / +1.646.957.2279 Jonathan
Gasthalter / Carissa Felger Gasthalter & Co. SCH@gasthalter.com
+1.212.257.4170
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