Nearly 40 blank-check companies revealed they have received delisting notices from their stock exchanges after the market close May 28 at the start of the long Memorial Day weekend.
All of the notices were triggered by failure to file timely financial reports with the SEC. Most of the SPACs laid the blame for the delay on the SEC staff statement in April regarding new accounting for warrants. The SEC said the instruments should be treated as derivative liabilities and accounted for at fair value. Listing warrants as equity assets had long been the norm.
The regulator’s announcement has already led to a tsumani of amended and refiled financial reports across the blank-check space as SPAC management teams consulted with their accounting firms on how to proceed.
SPACs that reported receiving delisting notices from either the NYSE or Nasdaq are below in alphabetical order with links to their respective announcements. None of the blank-check companies are in immediate danger of being delisted from an exchange, as companies typically have at least two months to regain compliance with listing rules.
890 5th Avenue Partners
Adit EdTech Acquisition
Astrea Acquisition
Avanti Acquisition
Broadscale Acquisition
Bull Horn Holdings
CHP Merger
Churchill Capital IV
Dune Acquisition
EdtechX Holdings Acquisition II
FTAC Athena Acquisition
FTAC Hera Acquisition
FTAC Parnassus Acquisition
HumanCo Acquisition
Ibere Pharmaceuticals
Lefteris Acquisition
MDH Acquisition
Merida Merger I
Motion Acquisition
NightDragon Acquisition
Pine Island Acquisition
Queen’s Gambit Growth Capital
Sarissa Capital Acquisition
SCVX
Social Capital Hedosophia Holdings IV
Social Capital Hedosophia Holdings VI
Social Leverage Acquisition I
Spartan Acquisition III
Stratim Cloud Acquisition
Tekkorp Digital Acquisition
Trepont Acquisition
Tuatara Capital Acquisition
Tuscan Holdings
TZP Strategies Acquisition
VG Acquisition
Virgin Group Acquisition II
Viveon Health Acquisition
Waldencast Acquisition
Zanite Acquisition
