Clean Energy Special Situations Corp. Receives Notice from Nasdaq Regarding Suspension of Trading of Securities and Files for Hearing
February 21 2024 - 4:01PM
Clean Energy Special Situations Corp. (the “Company”) announced
that, on February 14, 2024, it received a formal notice (the
“Formal Notice”) 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”) and failed to meet the
terms of the exception granted by the Staff of Nasdaq (the “Staff”)
to file the Q3 10-Q by February 12, 2024 (the “Exception”). The
Formal Notice further stated that, unless the Company requested an
appeal of this determination, trading of the Company’s Common
Stock, par value $0.0001 per share (the “Common Stock”) would be
suspended at the opening of business on February 23, 2024 and a
Form 25-NSE will be filed with the Securities and Exchange
Commission (the “SEC”) which will remove the Company’s securities
from listing and registration on Nasdaq.
The Company has requested today an appeal of the Staff’s
determination to a Hearings Panel (the “Panel”) pursuant to the
procedures set forth in the Rules. A request for a hearing
regarding a delinquent filing will stay the suspension of the
Company’s securities only for a period of 15 days from the date of
the request. As a result, the Company will further request a stay
of the suspension, pending the hearing. There can be no assurance
that the Company will be able to successfully gain a stay of the
suspension pending the results of the hearing, prevail at the
hearing, or 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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