Tio Tech A Receives Notice from Nasdaq Regarding Late Filing of Quarterly Report on Form 10-Q
NEW YORK, NY / ACCESSWIRE / June 4, 2021 / Tio Tech A (NASDAQ: TIOA) (the “Company”) announced today that it has received a Notice (the “Notice” from the Listing Qualifications Department of The Nasdaq Stock Market LLC (the “Nasdaq”) indicating that as a result of not having filed on time its quarterly report on Form 10-Q for the quarter ended March 31, 2021 (the “Form 10-Q”), the Company is not in compliance with the Nasdaq Listing Rule 5250 (c) (1), which requires the timely filing of all required periodic financial reports with the Securities and Exchange Commission (the “SEC”).
The Notice has no immediate impact on the listing of the Company’s securities, which will continue to trade on the Nasdaq, subject to the Company’s compliance with other Nasdaq continuous listing requirements. Under the Nasdaq listing rules, the company has 60 calendar days from the date of the notice to file Form 10-Q. If the Company is unable to file Form 10-Q with the SEC by August 2, 2021, the Company intends to submit a plan to restore compliance with the listing rules to the SEC. Nasdaq no later than that date. If the Nasdaq accepts the plan, the Nasdaq may grant the Company a waiver of up to 180 calendar days from the Form 10-Q due date, or until November 22, 2021, to restore compliance. . However, there can be no assurance that the Nasdaq will accept the Company’s plan to restore compliance or that the Company will be able to restore compliance during an extension period granted by the Nasdaq. If the Company fails to comply with the Nasdaq listing rules in a timely manner, the common shares of the Company will be subject to delisting from the Nasdaq. The Company plans to file Form 10-Q as soon as possible.
This press release may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, with respect to the Company or its management team, identify forward-looking statements. These forward-looking statements are based on the beliefs of management, as well as on the assumptions made by the management of the Company and on the information currently available to the latter. Actual results could differ materially from those contemplated by forward-looking statements due to certain factors detailed in documents filed by the Company with the SEC. All subsequent written or oral forward-looking statements attributable to the Company or to persons acting on its behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set out in the Risk Factors section of the Company’s registration statement and prospectus relating to the initial public offering of the Company. Company filed with the SEC. The Company assumes no obligation to update these statements for revisions or changes after the date of this posting, except as required by law.
SOURCE: Tio Tech
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