Advent Technologies Announces Postponement of Annual Meeting to June 8, 2021
May 17 2021 - 4:30PM
Business Wire
Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent”), an
innovation-driven company in the fuel cell and hydrogen technology
space, today announced that the 2021 annual meeting of stockholders
(the “Annual Meeting”) originally scheduled to be held on Thursday,
May 20, 2021, has been postponed. In response to the SEC’s “Staff
Statement on Accounting and Reporting Considerations for Warrants
Issued by Special Purpose Acquisition Companies (“SPACs”)” (the
“Staff Statement”), which highlighted the complex nature of
warrants of a kind similar to those issued by Advent, Advent has
postponed the Annual Meeting to allow for the mailing of an update
to our annual report to include the restatement of certain
financial statements of AMCI Acquisition Corp. prior to the
business combination. The Staff Statement informed market
participants that warrants issued by SPACs may require
classification as a liability, with non cash fair value adjustments
recorded in earnings at each reporting period.
The Annual Meeting will now be held on June 8, 2021, at 9:00
a.m. Eastern Time. The record date for the determination of
stockholders entitled to notice of, and to vote at, the Annual
Meeting will remain April 12, 2021.
We are sensitive to the public health and travel concerns our
stockholders may have and recommendations that public health
officials may issue in light of the evolving COVID-19 situation. As
a result, our Annual Meeting will be a completely virtual meeting,
which will be conducted via live webcast.
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that
develops, manufactures, and assembles critical components for fuel
cells and advanced energy systems in the renewable energy sector.
Advent is headquartered in Boston, Massachusetts, with offices in
the San Francisco Bay Area and Europe. With 120-plus patents
(issued and pending) for its fuel cell technology, Advent holds the
IP for next-gen high-temperature proton exchange membranes (HT-PEM)
that enable various fuels to function at high temperatures under
extreme conditions – offering a flexible ‘Any Fuel. Anywhere’
option for the automotive, maritime, aviation and power generation
sectors.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements. These
forward-looking statements generally can be identified by the use
of words such as “anticipate,” “expect,” “plan,” “could,” “may,”
“will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and
other words of similar meaning. These forward-looking statements
address various matters including the Company’s plans and
expectations with respect to the Annual Meeting. Each
forward-looking statement contained in this press release is
subject to risks and uncertainties that could cause actual results
to differ materially from those expressed or implied by such
statement. Applicable risks and uncertainties include, among
others, the Company’s ability to realize the benefits from the
business combination; the Company’s ability to maintain the listing
of the Company’s common stock on Nasdaq; future financial
performance; public securities’ potential liquidity and trading;
impact from the outcome of any known and unknown litigation;
ability to forecast and maintain an adequate rate of revenue growth
and appropriately plan its expenses; expectations regarding future
expenditures; future mix of revenue and effect on gross margins;
attraction and retention of qualified directors, officers,
employees and key personnel; ability to compete effectively in a
competitive industry; ability to protect and enhance our corporate
reputation and brand; expectations concerning our relationships and
actions with our technology partners and other third parties;
impact from future regulatory, judicial and legislative changes to
the industry; ability to locate and acquire complementary
technologies or services and integrate those into the Company’s
business; future arrangements with, or investments in, other
entities or associations; and intense competition and competitive
pressure from other companies worldwide in the industries in which
the Company will operate; and the risks identified under the
heading "Risk Factors" in our Annual Report on Form 10-K filed with
the Securities and Exchange Commission on March 26, 2021, as well
as the other information we file with the SEC. We caution investors
not to place considerable reliance on the forward-looking
statements contained in this press release. You are encouraged to
read our filings with the SEC, available at www.sec.gov, for a
discussion of these and other risks and uncertainties. The
forward-looking statements in this press release speak only as of
the date of this document, and we undertake no obligation to update
or revise any of these statements. Our business is subject to
substantial risks and uncertainties, including those referenced
above. Investors, potential investors, and others should give
careful consideration to these risks and uncertainties.
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version on businesswire.com: https://www.businesswire.com/news/home/20210517005876/en/
Advent Technologies Holdings, Inc. Elisabeth Maragoula
emaragoula@advent.energy
Sloane & Company Joe Germani / James Goldfarb
jgermani@sloanepr.com / jgoldfarb@sloanepr.com
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