Burgundy Technology Acquisition Corp. Announces Filing of Quarterly Report on Form 10-Q to Regain Compliance with Nasdaq List...
09 Juni 2021 - 9:34PM
Business Wire
Burgundy Technology Acquisition Corporation (NASDAQ: BTAQ) (the
“Company”), announces that it had filed today its Quarterly Report
on Form 10-Q for the period ended March 31, 2021 (the “Quarterly
Report”), and as a result has regained compliance with the
applicable Nasdaq continued listing requirements. The Company had
previously announced on June 3, 2021 that it had received a notice
from the Listing Qualifications Department of The Nasdaq Stock
Market (“Nasdaq”) indicating that as a result of the Company’s
failure to timely file the Quarterly Report, the Company no longer
complies with the continued listing requirements set forth in
Nasdaq Listing Rule 5250(c)(1). As a result of the filing of the
Quarterly Report, the Company is not required to submit a
compliance plan to Nasdaq to cure the deficiency.
The Company had been unable to complete and file the Quarterly
Report by the required due date of May 17, 2021 as a result of the
need to evaluate the impact of the statement issued on April 12,
2021 by the staff of the U.S. Securities and Exchange Commission
pertaining to Special Purpose Acquisition Companies (“SPACs”) and
the accounting and reporting of warrants issued by SPACs, and the
time required to prepare and file an amendment to its Annual Report
on Form 10-K for the fiscal year ended December 31, 2020 (the
“Amended 10-K”) to include restated audited financial statements of
the Company as of December 31, 2020 and for the period from June 4,
2020 (inception) through December 31, 2020. The Company filed the
Amended 10-K on June 4, 2021.
About The Company
The Company is an early stage blank check company incorporated
on June 4, 2020 as a Cayman Islands exempted company and
incorporated for the purpose of effecting a merger, share exchange,
asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses. The Company has
generated no operating revenues to date and will not generate
operating revenues until it consummates its initial business
combination.
For more information, please visit
www.BurgundyTechnology.com.
Forward-Looking Statements
These forward-looking statements are subject to known and
unknown risks, uncertainties and assumptions about the Company that
may cause actual results, levels of activity, performance or
achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or
implied by such forward-looking statements. In some cases, you can
identify forward-looking statements by terminology such as “may,”
“should,” “could,” “would,” “expect,” “plan,” “anticipate,”
“believe,” “estimate,” “continue,” or the negative of such terms or
other similar expressions. Such statements include, but are not
limited to, statements other than statements of historical
fact.
Important factors, among others, that may affect actual results
or outcomes include the inability to timely prepare and file the
Amended 10-K and the Quarterly Report; costs related to the Company
and its potential business combination; the inability to maintain
the listing of the Company’s shares on Nasdaq; potential litigation
involving the Company; changes in applicable laws or regulations;
the possibility that the Company may be adversely affected by other
economic, business, and/or competitive factors; and the impact of
the continuing COVID-19 pandemic on the Company’s business. The
Company does not undertake any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210609005874/en/
James Mackey Email: Jim.Mackey@BurgundyTechnology.com Phone: +44
20 7129 1152
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