Kismet Acquisition Three Corp. Announces Receipt of Notice of Delisting From Nasdaq
16 November 2022 - 10:38PM
Kismet Acquisition Three Corp. (the “Company”) announced today that
on November 10, 2022, it received a Staff Delisting Determination
(the “Staff Determination”) from the Listing Qualifications
Department of The Nasdaq Stock Market LLC (“Nasdaq”), which
notified the Company that its securities will be delisted from
Nasdaq. As previously disclosed, on August 23, 2022, the Nasdaq
Listing Qualifications Department notified the Company that,
because the Company had not timely filed its Quarterly Report on
Form 10-Q for the period ended June 30, 2022 (the “Quarterly
Report”) with the SEC, the Company was not in compliance with
Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all
required periodic financial reports with the Securities and
Exchange Commission (the “SEC”). The Company was
provided until October 24, 2022, to submit its plan to file the
Quarterly Report, however, the Company did not provide a plan for
Nasdaq’s staff’s consideration.
The Staff Determination will not immediately result in the
suspension of trading or delisting of the Company’s securities. The
Company may appeal the Staff Determination before a Nasdaq Hearings
Panel and seek a stay of any suspension or delisting action pending
the hearing process in accordance with the procedures set forth in
the Staff Determination Letter. A request for a hearing before the
Nasdaq Hearings Panel must be submitted no later than 4:00 pm
Eastern time on November 17, 2022. In that regard, unless the
Company requests an appeal of the Staff Determination, trading of
the Company’s units, ordinary shares and warrants will be suspended
at the opening of business on November 21, 2022, and a Form 25-NSE
will be filed with the SEC, which will remove the Company’s
securities from listing and registration on Nasdaq.
The Company has decided not to appeal the Staff
Determination.
About Kismet Acquisition Three
Corp.
Kismet Acquisition Three Corp. is a special purpose acquisition
company formed for the purpose of acquiring, engaging in a share
exchange, share reconstruction and amalgamation, contractual
control arrangement with, purchasing all or substantially all of
the assets of, or engaging in any other similar initial business
combination with one or more businesses or entities.
Forward-Looking Statements
This press release may contain statements that constitute
“forward-looking statements,” including with respect to the
suspension and delisting of the Company’s securities from Nasdaq.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company’s annual report on
Form 10-K filed with the SEC on March 31, 2022, and the Company’s
subsequently filed quarterly reports on Form 10-Q. Copies of these
documents are available on the SEC’s website, www.sec.gov. The
Company undertakes no obligation to update these statements for
revisions or changes after the date of this release, except as
required by law.
Contacts:
Kismet Acquisition Three Corp.+7 (499)
755-2134info@kismetcg.com
Kismet Acquisition Three (NASDAQ:KIIIU)
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