Kismet Acquisition Three said it was notified by Nasdaq that the exchange will delist the SPAC.
The Nasdaq Listing Qualifications Department in August notified the company that it had not timely filed a Quarterly Report for the period ended June 30 with the SEC, and so was not in compliance with Nasdaq listing rules. The SPAC had until Oct, 24 to submit a plan for filing the Quarterly Report, but did not do so.
Units, shares and warrants will be suspended at the market open on Nov. 21.
Kismet Acquisition Three in a press release said it has decided not to appeal the Nasdaq’s decision, however, the SPAC did not say whether or where it will now list its stock.
The SPAC raised $250 million in a February 2021 IPO to focus on companies in the internet and technology sectors operating in Europe and Russia, as well as businesses established by founders with Russian origins that operate in those regions or other countries. Read more.
