Everest Consolidator Acquisition Corporation Receives NYSE Notice Regarding Delayed Form 10-Q Filing
November 28 2023 - 4:05PM
Business Wire
Everest Consolidator Acquisition Corporation (the “Company”)
today announced that on November 21, 2023 it received a notice (the
“Notice”) from the New York Stock Exchange (the "NYSE") indicating
that the Company is not in compliance with Section 802.01E of the
NYSE Listed Company Manual (the “Listing Rule”) as a result of the
Company’s failure to timely file its Quarterly Report on Form 10-Q
for the quarterly period ended September 30, 2023 (the "Form 10-Q")
with the Securities and Exchange Commission (the "SEC").
The Notice has no immediate effect on the listing of the
Company’s securities on the NYSE. The NYSE informed the Company
that, under the NYSE's rules, the Company has six months from the
original due date of the Form 10-Q, or until May 20, 2024, to file
the Form 10-Q and regain compliance with the Listing Rule. The NYSE
further noted that, if the Company fails to file the Form 10-Q, and
any subsequent filings, within the six-month period, the NYSE may
grant, in its sole discretion, an extension of up to six additional
months for the Company to regain compliance, depending on the
specific circumstances. The NYSE Notice also noted that the NYSE
may nevertheless commence delisting proceedings at any time if it
deems that the circumstances warrant.
As previously reported by the Company in its Notification of
Late Filing on Form 12b-25 filed with the SEC on November 15, 2023,
the Company was unable to file the Form 10-Q within the prescribed
period without unreasonable effort or expense because the Company
required additional time to address the implications of its use of
funds restricted for payment of the Company’s tax liabilities
counter to the terms of the Trust Agreement as a result of internal
resource constraints and to complete its procedures for finalizing
the Form 10-Q.
The Company is continuing its efforts to complete the Form 10-Q.
The Company intends to file the Form 10-Q as soon as practicable to
regain compliance with the Listing Rule.
About Everest Consolidator Acquisition Corporation
The Company is a blank check company sponsored by an affiliate
of Belay Associates, LLC and formed for the purpose of entering
into a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or similar business combination with one
or more businesses or entities.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical fact included in this press
release are forward-looking statements. Certain of these
forward-looking statements can be identified by the use of words
such as “believes,” “expects,” “intends,” “plans,” “estimates,”
“assumes,” “may,” “should,” “will,” “seeks,” or other similar
expressions. Such statements include statements regarding the
anticipated timing of the filing of the Form 10-Q and Company's
ability to regain compliance with the continued listing
requirements of the NYSE. These statements are based on current
expectations as of the date of this press release and are neither
promises nor guarantees, but involve a number of risks and
uncertainties that may cause actual results to differ
significantly, including those factors set forth under the heading
“Risk Factors” of the Company’s Annual Report on Form 10-K for the
fiscal year ended December 31, 2022, and in the Company’s other
filings with the SEC. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20231128215340/en/
Investor: Katherine Paulson kpaulson@belayinvest.com
949-610-0835
Chris Sullivan chris@craftandcapital.com
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