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UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13
OR 15(d) OF THE
SECURITIES EXCHANGE ACT
OF 1934
Date of Report (Date of earliest
event reported): August 23, 2023
CLEAN
ENERGY SPECIAL SITUATIONS CORP.
(Exact Name of Registrant
as Specified in Charter)
Delaware |
|
001-40757 |
|
85-3501488 |
(State or Other Jurisdiction
of Incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
c/o Graubard Miller
405 Lexington Avenue,
44th Floor
New York, New York 10174
(Address of Principal Executive
Offices) (Zip Code)
(212) 818-8800
(Registrant’s Telephone
Number, Including Area Code)
Not Applicable
(Former Name or Former Address,
if Changed Since Last Report)
Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
|
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c)) |
Securities registered pursuant
to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Units, each consisting of one share of common stock, $0.0001 par value, and one-half of one redeemable warrant |
|
SWSSU |
|
The Nasdaq Stock Market LLC |
Common stock, par value $0.0001 per share |
|
SWSS |
|
The Nasdaq Stock Market LLC |
Redeemable warrants, exercisable for common stock at an exercise price of $11.50 per share |
|
SWSSW |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether
the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing.
On August
23, 2023, Clean Energy Special Situations Corp. (the “Company”) received a written notice (the “Notice”)
from the Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company 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 June 30, 2023 (the “Quarterly
Report”).
Under
Nasdaq rules, the Company now has 60 calendar days (or until October 23, 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 February 12, 2024, 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.
This notification has no immediate
effect on the listing of the Company’s securities on Nasdaq. There can be no assurance, however, that the Company will be able to
regain compliance with the listing standards discussed above.
The Company issued a press release
announcing the foregoing, which press release is attached to this Current Report on Form 8-K as exhibit 99.1.
Item 9.01. Financial Statement and Exhibits.
(d) Exhibits:
Exhibit |
|
Description |
99.1 |
|
Press release. |
104 |
|
Cover Page Interactive Data File (formatted in Inline XBRL). |
SIGNATURE
Pursuant to the requirements of
the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated: August 30, 2023 |
CLEAN ENERGY SPECIAL SITUATIONS CORP. |
|
|
|
|
By: |
/s/ Raghunath Kilambi |
|
|
Raghunath Kilambi |
|
|
Chief Executive Officer |
Exhibit 99.1
Clean Energy Special
Situations Corp. Receives Notice from Nasdaq Regarding Late Form 10-Q Filing
New York, New York, August
30, 2023 (GLOBE NEWSWIRE) – Clean Energy Special Situations Corp. (Nasdaq: SWSS) (the “Company”) announced
today that the Nasdaq Stock Market LLC (“Nasdaq”), by letter dated August 23, 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 June 30, 2023 (the “Quarterly Report”).
As reported in the Form 12b-25
filed by the Company with the Securities and Exchange Commission on August 10, 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 October 23, 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 February 12, 2024, 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 Clean Energy Special Situations Corp.
Clean Energy 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:
Raghunath Kilambi
Chief Executive Officer
c/o Graubard Miller
(212) 818-8800
v3.23.2
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