Stemming from SEC Steering Regarding Accounting Therapy of Warrants, Kismet Acquisition Two Corp. Announces Receipt of Nasdaq Continued Listing Standard Recognize
Moscow, Russia, June 03, 2021 (World NEWSWIRE) — Kismet Acquisition Two Corp. (the “Enterprise”) right now introduced that on May perhaps 28, 2021 it obtained a deficiency letter from the Nasdaq Money Industry (“Nasdaq”) relating to the Company’s failure to well timed file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 (the “Form 10-Q”) as demanded less than Portion 5250(c) of the Nasdaq Regulations and Regulations.
On April 12, 2021, the staff of the Securities and Trade Commission (“SEC”) issued “Staff Statement on Accounting and Reporting Issues for Warrants Issued by Specific Function Acquisition Firms (“SPACs”)” (the “Statement”), which clarified direction for all SPAC-connected organizations with regards to the accounting and reporting for their warrants. The immediacy of the helpful day of the new steerage established forth in the Assertion has resulted in a substantial amount of SPACs re-assessing the accounting cure for their warrants with their experienced advisors, together with auditors and other advisors accountable for aiding SPACs in the preparation of monetary statements. This, in convert, has resulted in the Company’s hold off in preparing and finalizing its fiscal statements as of and for the quarter finished March 31, 2021 and submitting its Kind 10-Q with the SEC by the prescribed deadline.
Underneath Nasdaq Listing Rule 5810(c)(2)(F)(i), the Corporation frequently has right up until 60 calendar days from the date of the deficiency letter to post to Nasdaq a system (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 Enterprise thinks the adjust in SEC direction does not have an affect on its strategy or financial effectiveness. The Business is in compliance with all other Nasdaq ongoing listing expectations. The Business expects to file the Sort 10-Q as instantly as practicable and does not foresee any hazard of non-compliance with the Nasdaq 60-working day remediation timeframe.
About Kismet Acquisition Two Corp.
Kismet Acquisition Two Corp. is a unique intent acquisition business led by Chairman and Main Government Officer Ivan Tavrin, shaped for the reason of acquiring, participating in a share trade, share reconstruction and amalgamation, contractual manage arrangement with, acquiring all or considerably all of the property of, or partaking in any other comparable preliminary organization combination with just one or much more firms or entities.
Cautionary Note Concerning Forward-Searching Statements
Selected statements in this push launch are “forward-hunting statements” in just the this means of Area 21E of the Securities Trade Act of 1934, as amended, and are matter to the risk-free harbor designed thus. In some cases, forward-looking statements can be recognized by terminology this kind of as “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “potential,” “outlook,” “guidance” or the damaging of individuals phrases or other equivalent terminology. These statements are primarily based on the current beliefs and anticipations of the Company’s administration and are matter to significant risks and uncertainties. The earlier mentioned statements concerning the influence of the Assertion on the Company’s money statements, as well as the impact of the revision on any periodic SEC filings, which include the timing of filing the Type 10-Q, represent ahead-seeking statements that are centered on the Company’s current anticipations. Due to the fact these forward-searching statements entail challenges and uncertainties, there are essential factors that could bring about long term activities to differ materially from those in the ahead-seeking statements, a lot of of which are exterior of the Company’s control. These things incorporate, but are not constrained to, a range of danger variables influencing the Company’s organization and prospective clients, see the section titled “Risk Factors” in the Company’s Annual Report on Sort 10-K filed with the SEC on March 31, 2021 and subsequent reports submitted with the SEC, as amended from time to time. Any forward-seeking statements are produced only as of the day hereof, and unless otherwise required by relevant securities guidelines, the Organization disclaims any intention or obligation to update or revise any ahead-looking statements, whether or not as a final result of new details, upcoming functions or in any other case.
Get in touch with:
Kismet Acquisition Two Corp.
+7 (499) 755-2134
[email protected]