Clean Energy Special Situations Corp. Receives Notice from Nasdaq Regarding Late Form 10-Q Filing
December 01 2023 - 4:22PM
Clean Energy Special Situations Corp. (the “Company”) announced
that on November 29, 2023, it received a notification letter (the
“Letter”) from the Nasdaq Stock Market LLC (“Nasdaq”) indicating
that the Company was not in compliance with Nasdaq’s continued
listing standards (the “Rules”) because the Company did not timely
file its Quarterly Report on Form 10-Q for the quarter ended
September 30, 2023 (the “Q3 10-Q”).
As previously disclosed, the Company had
received written notice (the “Initial Notice”) from Nasdaq
indicating that the Company was not in compliance with the Rules
because the Company did not timely file its Quarterly Report on
Form 10-Q for the quarter ended June 30, 2023 (the “Q2 10-Q”). In
response to the Initial Notice, the Company timely submitted a plan
to regain compliance with the Rules with respect to the Q2 10-Q,
which plan was approved by Nasdaq. As a result, the Company has
until February 12, 2024 to file the Q2 10-Q and regain compliance
with the Rules. The Company is required to submit an update to the
plan that was submitted in response to the Initial Notice to
account for regaining compliance with respect to the Q3 10-Q and
indicate the progress the Company has made towards filing the Q2
10-Q. The update to the plan must be submitted to Nasdaq by
December 13, 2023.
If Nasdaq accepts the updated plan, the Company
would have until February 12, 2024 to regain compliance with the
Rules with respect to both the Q2 10-Q and Q3 10-Q. The Company can
regain compliance at any time by filing such reports and any other
subsequent reports required to be filed in the interim.
The Letter 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 Rules discussed above.
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 KilambiChief Executive Officerc/o
Graubard Miller(212) 818-8800
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