NEW
YORK, June 11, 2024 /PRNewswire/ -- Mountain
& Co. I Acquisition Corp. (the "Company") today announced that,
on June 5, 2024, it received a notice
(the "Notice") from the Listing Qualifications Department of the
Nasdaq Stock Market LLC ("Nasdaq") indicating that because the
Company had not yet filed its Form 10-Q for the period ended
March 31, 2024 (the "Form 10-Q"), the
Company was no longer in compliance with Nasdaq Listing Rule
5250(c)(1), which requires listed companies to timely file all
required periodic reports with the Securities and Exchange
Commission (the "Periodic Filing Rule").
The Notice states that the Company has 60 calendar days from the
date of the Notice to submit a plan to regain compliance with the
Periodic Filing Rule. The Company intends to file its Form 10-Q
prior to the expiration of the 60-calendar day period and regain
compliance with the Periodic Filing Rule. If the Company is unable
to file its Form 10-Q prior to such date, the Company intends to
submit a compliance plan within the 60-calendar day period and take
all reasonable measures available to regain compliance under the
Periodic Filing Rule. If Nasdaq accepts the compliance plan, the
Company will be granted an extension of up to 180 calendar days
from the Form 10-Q's due date, or until November 18, 2024, to regain compliance with the
Periodic Filing Rule. If Nasdaq does not accept the compliance
plan, the Company will have the opportunity to appeal the decision
to the Nasdaq Hearings Panel. There can be no assurance that the
compliance plan will be accepted by Nasdaq or that the Company will
be able to regain compliance with the minimum requirements of the
Periodic Filing Rule or will otherwise be in compliance with other
Nasdaq listing criteria.
The Notice has no immediate effect on the listing of the
Company's Class A ordinary shares, warrants or units on the Nasdaq
Capital Market.
The Company intends to file the Form 10-Q as soon as
practicable.
Forward-Looking Statements
This press release contains certain "forward-looking statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact contained in this Form 8-K are forward-looking
statements. Some of these forward-looking statements can be
identified by the use of forward-looking words, including "may,"
"should," "expect," "intend," "will," "anticipate," "believe,"
"predict," "plan," "targets," "projects," "could," "would,"
"continue," or the negatives of these terms or variations of them
or similar expressions. All forward-looking statements are subject
to risks, uncertainties and other factors that could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements. For example, there can be no
assurance that the Company will regain compliance with the Periodic
Filing Rule or otherwise meet Nasdaq compliance standards, that
Nasdaq will grant the Company any relief from delisting as
necessary or that the Company can ultimately meet applicable Nasdaq
requirements for any such relief. All forward-looking statements
are based upon estimates, forecasts and assumptions that, while
considered reasonable by the Company and its management, are
inherently uncertain and many factors may cause the actual results
to differ materially from current expectations which include, but
are not limited to the risks and uncertainties set forth under the
sections entitled "Risk Factors" and "Cautionary Note Regarding
Forward-Looking Statements and Risk Factor Summary" in the
Company's Annual Report on Form 10-K for the year ended
December 31, 2023, which was filed
with the SEC on May 23, 2024, as such
factors may be updated from time to time in the Company's filings
with the SEC. These filings identify and address other important
risks and uncertainties that could cause actual events and results
to differ materially from those contained in the forward-looking
statements. You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made and the
Company does not undertake any duty to update these forward-looking
statements, except as otherwise required by law.
CONTACT: Alexander Hornung, ah@mountain.partners
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SOURCE Mountain & Co. I Acquisition Corp.