Stemming from SEC Steerage Regarding Accounting Cure of Warrants, Kismet Acquisition A few Corp. Announces Receipt of Nasdaq Continued Listing Typical Recognize
Moscow, Russia, June 03, 2021 (World NEWSWIRE) — Kismet Acquisition 3 Corp. (the “Corporation”) these days declared that on May well 28, 2021 it obtained a deficiency letter from the Nasdaq Money Market place (“Nasdaq”) relating to the Company’s failure to well timed file its Quarterly Report on Type 10-Q for the quarter finished March 31, 2021 (the “Form 10-Q”) as expected under Part 5250(c) of the Nasdaq Regulations and Polices.
On April 12, 2021, the staff members of the Securities and Exchange Commission (“SEC”) issued “Staff Assertion on Accounting and Reporting Considerations for Warrants Issued by Unique Reason Acquisition Organizations (“SPACs”)” (the “Statement”), which clarified direction for all SPAC-similar providers with regards to the accounting and reporting for their warrants. The immediacy of the effective date of the new guidance established forth in the Assertion has resulted in a substantial variety of SPACs re-analyzing the accounting treatment method for their warrants with their professional advisors, together with auditors and other advisors responsible for helping SPACs in the preparing of fiscal statements. This, in convert, has resulted in the Company’s delay in getting ready and finalizing its financial statements as of and for the quarter finished March 31, 2021 and filing its Form 10-Q with the SEC by the approved deadline.
Beneath Nasdaq Listing Rule 5810(c)(2)(F)(i), the Firm generally has until 60 calendar times from the day of the deficiency letter to post to Nasdaq a program (the “Compliance Plan”) to get back compliance with the Nasdaq Listing Policies. The Firm intends to file its Sort 10-Q to get rid of the deficiency prior to the deadline for submitting a Compliance System.
The Corporation thinks the transform in SEC steerage does not have an impact on its tactic or monetary overall performance. The Firm is in compliance with all other Nasdaq continued listing expectations. The Enterprise expects to file the Variety 10-Q as immediately as practicable and does not foresee any danger of non-compliance with the Nasdaq 60-day remediation timeframe.
About Kismet Acquisition A few Corp.
Kismet Acquisition Three Corp. is a exclusive purpose acquisition business led by Chairman and Main Government Officer, Ivan Tavrin, shaped for the purpose of attaining, engaging in a share exchange, share reconstruction and amalgamation, contractual command arrangement with, paying for all or substantially all of the property of, or participating in any other related first enterprise combination with one or more organizations or entities.
Cautionary Take note About Forward-Searching Statements
Particular statements in this push launch are “forward-wanting statements” within just the meaning of Section 21E of the Securities Trade Act of 1934, as amended, and are subject to the secure harbor established thereby. In some instances, ahead-seeking statements can be identified by terminology these as “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “potential,” “outlook,” “guidance” or the detrimental of those people conditions or other comparable terminology. These statements are centered on the present beliefs and anticipations of the Company’s administration and are matter to sizeable challenges and uncertainties. The over statements relating to the effects of the Statement on the Company’s economic statements, as properly as the result of the revision on any periodic SEC filings, such as the timing of submitting the Type 10-Q, constitute forward-hunting statements that are primarily based on the Company’s latest anticipations. Due to the fact these ahead-wanting statements contain hazards and uncertainties, there are significant aspects that could cause foreseeable future functions to vary materially from individuals in the forward-looking statements, quite a few of which are outside of the Company’s control. These variables include things like, but are not restricted to, a wide range of hazard factors impacting the Company’s organization and potential customers, see the area titled “Risk Factors” in the Company’s Once-a-year Report on Form 10-K filed with the SEC on March 31, 2021 and subsequent experiences filed with the SEC, as amended from time to time. Any ahead-looking statements are produced only as of the day hereof, and until normally demanded by relevant securities legislation, the Firm disclaims any intention or obligation to update or revise any ahead-searching statements, no matter whether as a final result of new information, long term events or or else.
Get hold of:
Kismet Acquisition A few Corp.
+7 (499) 755-2134
[email protected]
