MENLO PARK, Calif.,
June 2, 2021 /PRNewswire/
-- Decarbonization Plus Acquisition Corporation II (the
"Company") announced today that it received a letter (the "Letter")
from the Listing Qualifications Department of Nasdaq on
May 28th, 2021 stating
that the Company was not in compliance with Nasdaq Listing Rule
5250(c) due to its failure to timely file its Quarterly Report on
Form 10-Q for the period ended March 31, 2021 (the "Filing").
As the Company reported in its Form 12b-25 filed on May 18, 2021 with the SEC, on April 12, 2021, the Acting Director of the
Division of Corporation Finance and Acting Chief Accountant of the
SEC (the "SEC Staff") issued a statement regarding the accounting
and reporting considerations for warrants issued by special purpose
acquisition companies entitled "Staff Statement on Accounting and
Reporting Considerations for Warrants Issued by Special Purpose
Acquisition Companies" (the "SEC Staff Statement"). The SEC Staff
Statement, among other things, highlighted the potential accounting
implications of certain terms that are common in warrants issued in
connection with the initial public offerings of special purpose
acquisition companies such as the Company. Given the scope of the
process for determining the appropriate treatment of its warrants
in accordance with the SEC Staff Statement, the Company was unable
to complete and file the Quarterly Report by the required due
date.
The Company completed the Filing on May
28, 2021 and has regained compliance with the Nasdaq Listing
Rules.
About Decarbonization Plus Acquisition Corporation II
Decarbonization Plus Acquisition Corporation II is a blank check
company formed for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with a target whose principal effort
is developing and advancing a platform that decarbonizes the most
carbon-intensive sectors. These include the energy and agriculture,
industrials, transportation and commercial and residential sectors.
The Company is sponsored by Decarbonization Plus Acquisition
Sponsor II LLC, which is an affiliate of Riverstone Holdings LLC,
and represents a further expansion of Riverstone's 15-year
franchise in low-carbon investments, having established industry
leading, scaled companies with more than US $5 billion of equity invested in renewables.
Contacts
Investors:
Peter Haskopoulos, Chief
Financial Officer
Email: phaskopoulos@riverstonellc.com
Phone: 212-271-6247
Media:
Daniel Yunger / Jeffrey Taufield
Kekst CNC
daniel.yunger@kekstcnc.com / jeffrey.taufield@kekstcnc.com
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SOURCE Decarbonization Plus Acquisition Corporation II