Springwater Special Situations Corp. Receives Notice from Nasdaq Regarding Late Form 10-Q Filing
25 Mai 2023 - 11:15PM
Springwater Special Situations Corp. (Nasdaq: SWSS) (the “Company”)
announced today that the Nasdaq Stock Market LLC (“Nasdaq”), by
letter dated May 25, 2023 (the “Notice”), notified the Company that
it was not in compliance with Nasdaq’s continued listing standards
because the Company did not timely file its Quarterly Report on
Form 10-Q for the quarter ended March 31, 2023 (the “Quarterly
Report”).
As reported in the Form 12b-25 filed by the
Company with the Securities and Exchange Commission on May 15,
2023, the Company is still in the process of compiling required
information to complete the Quarterly Report. As a result, the
Company required additional time to compile and verify the data
required to be included in the Quarterly Report.
Under Nasdaq rules, the Company now has 60
calendar days (or until July 24, 2023) to submit a plan to regain
compliance. If Nasdaq accepts the Company’s plan, Nasdaq can grant
an exception of up to 180 calendar days from the Quarterly Report’s
original due date, which 180 day period would end on November 20,
2023, to regain compliance. The Company can regain compliance with
Nasdaq’s continued listing standards at any time before such dates
by filing the Quarterly Report with the SEC and any other
subsequent reports that are required to be filed during the cure
period.
About Springwater
Special Situations Corp.
Springwater Special Situations Corp. 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 one or more businesses or
entities.
Forward-Looking Statements
This press release includes “forward-looking
statements” within the meaning of the “safe harbor” provisions of
the United States Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by the use of words
such as “estimate,” “plan,” “project,” “forecast,” “intend,”
“will,” “expect,” “anticipate,” “believe,” “seek,” “target”, “may”,
“intend”, “predict”, “should”, “would”, “predict”, “potential”,
“seem”, “future”, “outlook” or other similar expressions (or
negative versions of such words or expressions) that predict or
indicate future events or trends or that are not statements of
historical matters. These forward-looking statements are not
guarantees of future performance, conditions or results, and
involve a number of known and unknown risks, uncertainties,
assumptions and other important factors, many of which are outside
the Company’s control, that could cause actual results or outcomes
to differ materially from those discussed in the forward-looking
statements.
Contact Information:
Martin GruschkaChief Executive Officerc/o
Graubard Miller(212) 818-8800
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