Perception Capital Corp. III received written notice from Nasdaq related to delayed filing of quarterly report on Form 10-Q
August 28 2024 - 9:57PM
Perception Capital Corp. III (Nasdaq: PFTA) (the “Company”), a
special purpose acquisition company, today announced that it
received written notice from the Listing Qualifications Staff of
The Nasdaq Stock Market LLC (“Nasdaq”) on August 26, 2024 (the
“Notice”) indicating that the Company is delinquent in filing its
Quarterly Report on Form 10-Q for the period ended June 30, 2024
(the “Form 10-Q”), which may serve as an additional basis for the
delisting of the Company’s securities from Nasdaq. As a result, the
Company was not in compliance with Nasdaq Listing Rule 5250(c)(1),
which requires listed companies to timely file all required
periodic financial reports with the U.S. Securities and Exchange
Commission (the “SEC”). The Company previously filed a Form 12b-25
with the SEC on August 15, 2024, disclosing that it was unable to
file the Form 10-Q within the prescribed time period without
unreasonable effort or expense. Under Nasdaq rules, a company that
receives a delist determination for delinquency, can request an
appeal to a Nasdaq Hearings Panel (the “Hearings Panel”). A request
for a hearing regarding a delinquent filing will stay the
suspension of the Company’s securities for a period of 15 days from
the date of the request. Since the Company is already before a
Hearings Panel for its failure to achieve a business combination in
36 months, the Notice provided that the Company has until September
3, 2024 to request a stay of the suspension, pending a Hearing
Panels decision.
On August 28, 2024, the Company filed the Form
10-Q with the SEC, therefore, curing the deficiency outlined in the
Notice.
About Perception Capital Corp.
III
Perception Capital Corp. III is a special
purpose acquisition company affiliated with Perception Capital
Partners IIIA LLC, a private and public equity investor.
Contact
Perception Capital Corp. IIIRick GaenzleChief
Executive Officerinvestors@perceptioncapitalpartners.com
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