NEW
YORK, May 30, 2023 /PRNewswire/
-- LatAmGrowth SPAC (Nasdaq: LATG) (the "Company")
announced today that on May 24, 2023,
it received a letter from the Listing Qualifications Department of
the Nasdaq Stock Market ("Nasdaq") stating that it was not in
compliance with Nasdaq Listing Rule 5250(c)(1) as a result of it
not having timely filed its Quarterly Report on Form 10-Q for the
quarter ended March 31, 2023 (the "2023 Q1 10-Q") with the
Securities and Exchange Commission ("SEC").
The Nasdaq notification letter provides the Company with
60 calendar days, or until July 24,
2023, to submit to Nasdaq a plan to regain compliance in
accordance with Nasdaq's listing requirements. If the Company's
plan is accepted, Nasdaq may grant the Company up to 180 days, or
until November 20, 2023, for the
Company to regain compliance. If Nasdaq does not accept the
Company's plan, the Company will have the opportunity to appeal
that decision to a Nasdaq Hearings Pane under Nasdaq Listing Rule
5815(a). The Nasdaq notification letter has no immediate effect on
the listing of the Company's common stock on the NASDAQ Capital
Market.
The Company does not currently expect submission of a
compliance plan will be necessary as it anticipates filing its
2023 Q1 10-Q prior to the expiration of the 60 day period. The
Company anticipates that it will fully regain compliance with the
NASDAQ continued listing requirements upon such filing of its 2023
Q1 10-Q.
About LatAmGrowth SPAC
LatAmGrowth SPAC is a blank check company formed as a
Cayman Islands exempted company
for the purpose of effecting a merger, share exchange, asset
acquisition, share purchase, reorganization or similar business
combination with one or more businesses or assets.
Forward Looking Statements
This press release includes forward looking statements
that involve risks and uncertainties. Certain of the statements
made in this press release are "forward-looking statements" within
the meaning and protections of Section 27A of the Securities Act of
1933, as amended and Section 21E of the Securities Exchange Act of
1934, as amended, or the Exchange Act. Forward-looking statements
include statements with respect to our beliefs, plans, objectives,
goals, expectations, anticipations, assumptions, estimates,
intentions, and future performance, and involve known and unknown
risks, uncertainties and other factors, which may be beyond our
control, and which may cause the actual results, performance,
capital, ownership or achievements of the Company to be materially
different from future results, performance or achievements
expressed or implied by such forward-looking statements. All
statements other than statements of historical fact are statements
that could be forward-looking statements. You can identify these
forward-looking statements through our use of words such as "may,"
"will," "anticipate," "assume," "should," "indicate," "would,"
"believe," "contemplate," "expect," "estimate," "continue," "plan,"
"point to," "project," "could," "intend," "target" and other
similar words and expressions of the future.
All written or oral forward-looking statements
attributable to us are expressly qualified in their entirety by
this cautionary notice, including, without limitation, those risks
and uncertainties described in our annual report on Form 10-K for
the year ended December 31, 2021 and
our other reports and filings with SEC. Such reports are available
upon request from the Company, or from the Securities and Exchange
Commission, including through the SEC's Internet website at
http://www.sec.gov. We have no obligation and do not undertake to
update, revise or correct any of the forward-looking statements
after the date hereof, or after the respective dates on which any
such statements otherwise are made.
View original
content:https://www.prnewswire.com/news-releases/latamgrowth-spac-receives-nasdaq-notification-of-noncompliance-with-listing-rule-5250c1-301837634.html
SOURCE LatAmGrowth SPAC