LOS ANGELES, Dec. 3, 2021 /PRNewswire/ -- Sustainable
Development Acquisition I Corp. (NASDAQ: SDAC) announces that on
December 1, 2021, as a result of its
failure to timely file with the Securities and Exchange Commission
("SEC") its Quarterly Report on Form 10-Q for the fiscal quarter
ended September 30, 2021 (the "Form
10-Q"), it received a notice from The Nasdaq Stock Market LLC
("Nasdaq") stating that the Company was not in compliance with the
periodic filing requirements for continued listing set forth in
Nasdaq Listing Rule 5250(c)(1). Nasdaq's listing rules provide the
Company with 60 calendar days from the date of the notice to submit
a plan to regain compliance. The Nasdaq notice has no immediate
effect on the listing or trading of the Company's securities on
Nasdaq. As previously disclosed by the Company in its Form 12b-25
filed with the SEC on November 15,
2021, the Company was unable to file its Form 10-Q by its
original deadline without unreasonable effort or expense.
The Company fully regained compliance with the Nasdaq continued
listing requirements as a result of filing the Form 10-Q on
November 30, 2021, which eliminated
the need for the Company to submit a formal plan to regain
compliance. On December 1, 2021, the
Company received a Notice from Nasdaq confirming that the Company
had regained compliance with Nasdaq Listing Rule 5250(c)(1) and
that the matter was closed.
Forward-Looking Statements
This press release 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, including statements related to the Company's continued
listing on Nasdaq. All statements other than statements of
historical fact included in this press release are forward-looking
statements. When used in this press release, words such as
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"intend," "may," "might," "plan," "possible," "potential,"
"predict," "project," "should," "would" 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. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
About the Company
Sustainable Development Acquisition I Corp., a public benefit
corporation and Pending B Corporation, is a special-purpose
acquisition company created to acquire a successful business that
is addressing the global challenges identified by the United
Nations Sustainable Development Goals. SDAC was formed as a
partnership between RRG Global Partners Fund, a private fund
affiliated with Renewable Resources Group, a certified B Corp, and
Sustainable Investors Fund, a private fund affiliated with
Capricorn Investment Group, a certified B Corp.
Contact:
Media Contact:
Arón Villarreal
Info@WaterFoodEnergySpac.com
(323) 329 8221
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SOURCE Sustainable Development Acquisition I Corp.