SCVX Corp., which was delisted from the NYSE earlier this month, disclosed in an 8-K filing it has terminated a letter of intent with an unnamed target.
The SPAC was scratched off the exchange for failute to maintain the required $40 million global market capitalization over a consewcutive 30-day trading period. SCVX initally planned to voluntarily delist and move over to the NYSE American. That transition was approved by the exchange March 3, however, the following day NYSE American informed SCVX that upon further review it did not meet their initial listing requirements, either.
“The target company is a pioneer in the Environmental, Social, and Governance (ESG) space,” the SPAC said in a January news release.
In the latest regulatory filing, the SPAC said it would continue to explore alternative options for a business combination, yet added that it has no plans to relist on any exchange. Read more.
