UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 12b-25

 

NOTIFICATION OF LATE FILING

 

                                                001-40728

SEC FILE NUMBER

 

                               G5596W 119 (Units)

G5596W 101 (Class A Ordinary Shares)

                         G5596W 127 (Warrants)

CUSIP NUMBER

 

(Check One):

 

Form 10-K Form 20-F Form 11-K Form 10-Q and Form 10-D Form N-SAR Form N-CSR
For Period Ended:
September 30, 2021

 

Transition Report on Form 10-K

Transition Report on Form 20-F

Transition Report on Form 11-K

Transition Report on Form 10-Q

Transition Report on Form N-SAR

For the Transition Period Ended:     N/A       

 

 

Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.

 

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates: N/A

 

 

PART I - REGISTRANT INFORMATION

 

 

Full Name of Registrant:

World Quantum Growth Acquisition Corp.

 

Former Name if Applicable:

N/A

 

 


 

 

Address of Principal Executive Office (Street and Number):

PO Box 309, Ugland House

 

City, State and Zip Code:

Grand Cayman KY1-1104, Cayman Islands

 

 

 

 

PART II - RULES 12b-25(b) AND (c)

 

 

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

 

 

(a)

The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;

 

 

(b)

The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof will be filed on or before the fifth calendar day following the prescribed due date; and

 

 

(c)

The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

 

 

PART III - NARRATIVE

 

 

State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

 

World Quantum Growth Acquisition Corp. (the “Company”) has determined that it is unable, without unreasonable effort or expense, to file its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2021 (the “Q3 2021 Form 10-Q”) by the prescribed due date for the reasons described below.

 

As a result of recent guidance to Special Purpose Acquisition Companies by the U.S. Securities and Exchange Commission regarding redeemable equity instruments, the Company revisited its application of ASC 480-10-S99 on its financial statements. The Company had

 


 

previously classified a portion of its Class A ordinary shares in permanent equity. In accordance with ASC 480-10-S99 and after discussion with the Company’s management, the Company’s audit committee concluded that all of its Class A ordinary shares should be classified as temporary equity.

 

The Company is working diligently to complete the Q3 2021 Form 10-Q as soon as possible; however, given the scope of the process for determining the appropriate treatment of the redeemable equity instruments in accordance with ASC 480-10-S99 and appropriately reporting such treatment in the Q3 2021 Form 10-Q, the Company is unable to complete and file the Q3 2021 Form 10-Q by the required due date of November 15, 2021 without unreasonable effort and expense. The Company does, however, expect to file such report within five calendar days thereof.

 

 

PART IV - OTHER INFORMATION

 

 

(1) Name and telephone number of person to contact in regard to this notification

 

Serge Harry

(345)

949-8066

(Name)

(Area Code)

(Telephone Number)

 

(2) Have all other periodic reports required under section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If the answer is no, identify report(s).

 

Yes No

 

(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?

 

Yes No

 

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

 
Disclosures About Forward-Looking Statements

This Notification of Late Filing on Form 12b-25 contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and such statements are intended to be covered by the safe harbor provided by the same. These statements are based on the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. The above statements regarding the correction of errors in the

 


 

Company’s financial statements related to the accounting treatment of the public warrants and private placement warrants, as well as the effect of the revision on any periodic SEC filings, including the timing of filing such reports, constitute forward-looking statements that are based on the Company’s current expectations. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause future events to differ materially from those in the forward-looking statements, many of which are outside of the Company’s control. These factors include, but are not limited to, a variety of risk factors affecting the Company’s business and prospects, see “Risk Factors” in the Company’s Registration Statement on Form S-1 relating to its initial public offering, annual, quarterly reports and subsequent reports filed with the SEC, as amended from time to time. The Company does not undertake to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements.

 

 

 

 


 


 

 

 

 

World Quantum Growth Acquisition Corp.
(Name of Registrant as specified in charter)

 

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date:

November 15, 2021

 

By:

/s/ Serge Harry

 

 

 

 

Name: Serge Harry

 

 

 

 

Title:    Chief Financial Officer

 

 

 

 

 

 

 

World Quantum Growth Acq... (NYSE:WQGA)
Historical Stock Chart
From Dec 2021 to Jan 2022 Click Here for more World Quantum Growth Acq... Charts.
World Quantum Growth Acq... (NYSE:WQGA)
Historical Stock Chart
From Jan 2021 to Jan 2022 Click Here for more World Quantum Growth Acq... Charts.