Atlantic Avenue Acquisition said it received notice from the NYSE that the SPAc is not in compliance with listing rules for failure to file a timely 10-Q for the period ended March 31. The SPAC has six months from the filing due date to submit the 10-Q. The notice has no immediate effect on the listing or trading of the company’s securities.
Atlantic Avenue management said they are reviewing the impact of the SEC’s April statement on accounting for warrants on the SPAC’s unaudited financial statements. The SPAC said it would file a 10-Q “as soon as reasonably practicable.”
Atlantic Avenue Acquisition raised $250 million in an October IPO to target companies in technology, media and telecom, healthcare and fintech. Read more.
