Current Report Filing (8-k)
30 November 2021 - 10:02PM
Edgar (US Regulatory)
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2021-11-22
2021-11-22
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LJAQ:RedeemableWarrantsExercisableForSharesOfCommonStockAtExercisePriceOf11.50PerShareMember
2021-11-22
2021-11-22
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
November 22, 2021
LIGHTJUMP ACQUISITION CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware
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001-39869
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85-2402980
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(State or Other Jurisdiction
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(Commission
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(IRS Employer
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of Incorporation)
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File Number)
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Identification No.)
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2735 Sand Hill Road, Suite 110
Menlo Park, CA 94025
(Address of Principal Executive Offices) (Zip Code)
(650) 515-3930
(Registrant’s Telephone Number, Including
Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since
Last Report)
Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
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☐
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Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement communications pursuant
to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c))
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Securities registered pursuant to Section
12(b) of the Act:
Title of each class
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Trading
Symbol(s)
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Name of each exchange on which
registered
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Units, each consisting of one share of common stock and one-half of one redeemable warrant
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LJAQU
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The Nasdaq Stock Market LLC
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Common stock, par value $0.0001 per share
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LJAQ
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The Nasdaq Stock Market LLC
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Redeemable warrants, exercisable for shares of common stock at an exercise price of $11.50 per share
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LJAQW
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The Nasdaq Stock Market LLC
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Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act.
Item 4.02 Non-Reliance
on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.
In connection
with the preparation of its financial statements as of September 30, 2021, the management of LightJump Acquisition Corporation (the “Company”)
has re-evaluated the Company’s application of ASC 480-10-S99-3A to its accounting
classification of the redeemable shares of its common stock, par value $0.0001 per share (the “Public Shares”), issued as
part of the units sold in the Company’s initial public offering on January 12, 2021. Historically, a portion of the Public Shares
was classified as permanent equity to maintain net tangible assets greater than $5,000,000 on the basis that the Company will consummate
its initial business combination only if the Company has net tangible assets of at least $5,000,001. The Company’s management has
determined that the Public Shares include certain provisions that require classification of the Public Shares as temporary equity regardless
of the minimum net tangible assets required to complete the Company’s initial business combination.
In accordance
with SEC Staff Accounting Bulletin No. 99, “Materiality,” and SEC Staff Accounting Bulletin No. 108, “Considering the
Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements;” the Company evaluated
the changes and has determined that the related impacts were material to the previously presented financial statements. Therefore, the
Company, in consultation with its Audit Committee, concluded that its previously issued financial statements as of January 12, 2021, March
31, 2021 and June 30, 2021 should be restated to report all Public Shares as temporary equity. As such the Company restated those periods
in its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2021, filed with the SEC on November 22, 2021.
The Company’s
management and the Audit Committee have discussed the matters disclosed in this Current Report on Form 8-K pursuant to this Item 4.02
with Marcum LLP, the Company’s independent registered accounting firm.
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated: November 30, 2021
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LIGHTJUMP ACQUISITION CORP.
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By:
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/s/ Robert Bennett
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Name:
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Robert Bennett
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Title:
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Chief Executive Officer
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2
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