Item 3.01 Notice of Delisting or Failure to Satisfy a
Continued Listing Rule or Standard; Transfer of Listing.
On April 12, 2021, the Acting Director of the Division of Corporation
Finance and Acting Chief Accountant of the U.S. Securities and Exchange Commission (the “SEC”)
together issued a statement regarding the accounting and reporting considerations for warrants issued by special purpose acquisition
companies entitled “Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition
Companies (‘SPACs’)” (the “SEC Staff Statement”). As previously disclosed in the Notification of Late Filing
on Form 12b-25, filed by KINS Technology Group Inc. (the “Company”) with the SEC on May 17, 2021, given the scope of the process
for determining the appropriate accounting treatment of its outstanding warrants in accordance with the SEC Staff Statement and Accounting
Standards Codification (“ASC”) 815-40, Derivatives and Hedging: Contracts in an Entities Own Equity, the Company was unable
to complete and file its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021 (the “Form 10-Q”) by the
required due date without unreasonable effort and expense.
On May 28, 2021, the Company received a notice (the “Notice”)
from the Listing Qualifications Department of The Nasdaq Stock Market LLC (the “Exchange”) indicating that, as a result of
not having timely filed the Form 10-Q with the SEC, the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing
Rule”). The Listing Rule requires listed companies to timely file all required periodic reports with the SEC.
The Notice indicated that the Company can regain compliance with the
Exchange’s listing standards at any time prior to July 27, 2021 by filing the Form 10-Q. If the Company fails to file the Form 10-Q
by such date, the Company may submit a plan to regain compliance with the Listing Rule prior to such date and, following receipt of such
plan, the Exchange may grant, at its sole discretion, an extension for the Company to regain compliance, depending on the specific circumstances.
The Notice also stated that the Exchange may nevertheless commence delisting proceedings at any time if it deems that the circumstances
warrant.
While the Company can provide no assurances as to timing, the Company
plans to file the Form 10-Q as soon as practicably possible, and no later than July 27, 2021, and regaining compliance with the Listing
Rule.
Cautionary Statement Regarding Forward-Looking Statements
This report includes “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements, including relating to the filing of the 10-Q, other than statements of historical fact included in this report are forward-looking
statements. When used in this report, words such as “anticipate,” “believe,” “estimate,” “expect,”
“intend” and similar expressions, as they relate to the Company or its management team, identify forward-looking statements.
Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available
to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as
a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements
attributable to the Company or persons acting on its behalf are qualified in their entirety by this paragraph. Forward-looking statements
are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors
section of the Company’s Annual Report on Form 10-K, as it may be amended, filed with the SEC. Copies of such filings are available
on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after
the date of this release, except as required by law.