View Expects to Complete Financial Restatement and Release Full Year 2021 and Q1 2022 Financial Results in May 2022
March 28 2022 - 7:00AM
View, Inc. (NASDAQ: VIEW) (“View” or the “Company”), the leader in
smart building technologies, today announced that it expects to
complete its financial restatement and release full year 2021 and
Q1 2022 results in May 2022. This includes the Company’s restated
2019, 2020 and Q1 2021 financial statements, as well as its Q2
2021, Q3 2021, full year 2021 and Q1 2022 financial statements.
Update on Financial Restatement and Filings
As previously reported, the investigation of the Company’s Audit
Committee into its previously reported warranty accrual is now
complete. While View has made substantial progress with its
financial restatement and related filings, the Company now expects
to complete all relevant restatement filings concurrent with the
release of Q1 2022 and 2021 financial results in May 2022.
To date, outside of the previously reported misstatements in
warranty-related accruals, no material errors have been identified
in the restatement process, which remains subject to the completion
of the Company’s financial close process and the completion of the
financial statement audit.
With the issuance of restated 2019, 2020 and Q1 2021 financial
statements, as well as the filing of Q2 2021, Q3 2021, full year
2021 and Q1 2022 financial statements, View will become current on
its financial filings and will regain compliance with applicable
Nasdaq listing requirements.
As previously reported, View is scheduled for a hearing before
the Nasdaq Hearings Panel on March 31, 2022, at which the Company
will present its plan to regain compliance. The Company will
provide an update following that hearing and determination by
Nasdaq.
Forward-Looking Statements
This press release and certain materials View files with the
SEC, as well as information included in oral statements or other
written statements made or to be made by View, other than
statements of historical fact, contain certain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 as amended. These forward-looking statements are
based on current expectations, estimates, assumptions, projections,
and management’s beliefs, that are subject to change. There can be
no assurance that these forward-looking statements will be
achieved; these statements are not guarantees of future performance
and are subject to certain risks, uncertainties, and other factors,
many of which are beyond View’s control and are difficult to
predict. Therefore, actual outcomes and results may differ
materially from what is expressed or forecasted in such
forward-looking statements. View’s business is subject to a number
of risks which are described more fully in View’s definitive proxy
statement filed with the SEC on February 16, 2021, as amended
on February 23, 2021, which is incorporated by reference into
its Current Report on Form 8-K filed on March 12,
2021. View undertakes no obligation to update forward-looking
statements to reflect events or circumstances after the date
hereof.
About View
View is the leader in smart building technologies that transform
buildings to improve human health and experience, reduce energy
consumption and carbon emissions, and generate additional revenue
for building owners. View Smart Windows use artificial intelligence
to automatically adjust in response to the sun, eliminating the
need for blinds and increasing access to natural light. Every View
installation includes a cloud-connected smart building platform
that can easily be extended to reimagine the occupant experience.
View is installed and designed into more than 90 million square
feet of buildings including offices, hospitals, airports,
educational facilities, hotels, and multi-family residences. For
more information, please visit: www.view.com.
For further information:
Investors: Samuel
MeehanView, Inc. IR@View.com408-493-1358
View (NASDAQ:VIEW)
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