Stemming from SEC Steerage About Balance Sheet Cure of Warrants, Arctos NorthStar Acquisition Corp. Announces Receipt of NYSE Ongoing Listing Normal Discover

Arctos NorthStar Acquisition Corp. (NYSE: ANAC) (the “Firm”) right now announced that it received a formal observe of non-compliance from the New York Stock Exchange (the “NYSE”) relating to the Company’s failure to well timed file its Quarterly Report on Kind 10-Q for the quarter finished March 31, 2021 (the “Type 10-Q”) as essential underneath the timely filing conditions founded in Portion 802.01E of the NYSE Detailed Organization Manual.

On April 12, 2021, the employees of the Securities and Exchange Fee (“SEC”) issued “Workers Assertion on Accounting and Reporting Issues for Warrants Issued by Unique Goal Acquisition Organizations (“SPACs”)” (the “Assertion”), which clarified direction for all SPAC-associated organizations about the accounting and reporting for their warrants. The immediacy of the productive day of the new advice established forth in the Statement has resulted in a significant amount of SPACs re-assessing the accounting procedure for their warrants with their specialist advisors, which include auditors and other advisors accountable for assisting SPACs in the planning of fiscal statements. This, in convert, has resulted in the Company’s hold off in preparing and finalizing its money statements as of and for the quarter finished March 31, 2021 and filing its Kind 10-Q with the SEC by the recommended deadline.

Beneath NYSE policies, the Organization typically has 6 months following receipt of the notification of non-compliance to get back compliance with the ongoing listing conventional, issue to any extensions by NYSE. The Business intends to file the Variety 10-Q with the SEC in the near expression and get back compliance inside these interval.

Cautionary Statement Concerning Forward-Wanting Statements

Selected statements in this press release are “ahead-wanting statements” within the indicating of Segment 21E of the Securities Trade Act of 1934, as amended, and are matter to the protected harbor developed thus. In some conditions, forward-hunting statements can be determined by terminology this sort of as “may,” “will,” “could,” “would,” “should,” “assume,” “program,” “anticipate,” “intend,” “believe,” “estimate,” “forecast,” “prospective,” “outlook,” “steering” or the unfavorable of all those terms or other similar terminology. These statements are centered on the present-day beliefs and expectations of the Company’s management and are matter to significant dangers and uncertainties. The above statements about the effect of the Statement on the Company’s money statements, as very well as the impact of the revision on any periodic SEC filings, such as the timing of filing the Variety 10-Q, represent ahead-searching statements that are dependent on the Company’s recent anticipations. Mainly because these ahead-hunting statements contain dangers and uncertainties, there are crucial things that could bring about future gatherings to differ materially from people in the ahead-wanting statements, numerous of which are outdoors of the Company’s regulate. These factors contain, but are not confined to, a wide range of chance variables influencing the Company’s organization and prospective buyers, see the portion titled “Hazard Elements” in the Company’s Prospectus submitted with the SEC on February 24, 2021 and subsequent reports submitted with the SEC, as amended from time to time. Any forward-hunting statements are produced only as of the date hereof, and except if in any other case essential by applicable securities guidelines, the Firm disclaims any intention or obligation to update or revise any ahead-seeking statements, no matter if as a consequence of new information and facts, foreseeable future situations or usually.

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Contacts

Lauren Fernandez
[email protected]