HONG
KONG, Aug. 30, 2022 /PRNewswire/ -- Magnum
Opus Acquisition Limited (NYSE: OPA) ("Magnum Opus" or the
"Company") announces that on August 23,
2022, as a result of the Company's inability to timely file
with the Securities and Exchange Commission ("SEC") its Quarterly
Report on Form 10-Q for the quarter ended June 30, 2022 (the "Form 10-Q"), it received a
notice from the New York Stock Exchange (the "NYSE") stating that
the Company is not in compliance with the NYSE American's continued
listing requirements under the timely filing criteria established
in the NYSE American Company Guide. Under the Section 1007 of the
NYSE American Company Guide, the Company could be granted up to 12
months to cure the late filer deficiency. The initial six-month
period to regain compliance is automatic and the additional six
months is only granted upon request by the Company and approval by
the NYSE. The NYSE notice has no immediate effect on the listing or
trading of the Company's securities on the NYSE.
As previously disclosed by the Company in its Form 12b-25 filed
with the SEC on August 16, 2022, the
Company was unable to file its Form 10-Q by its original deadline
without unreasonable effort or expense due to the fact that the
financial statements could not be completed in sufficient time to
solicit and obtain the necessary review of the Form 10-Q in a
timely fashion prior to the original due date of the report. The
Company is still working to complete certain disclosures regarding
the financial information in the Form 10-Q and expects that it will
file the Form 10-Q no later than September
30, 2022. However, the timing of the filing is uncertain at
this moment, and this projected filing date could change.
About Magnum Opus
Magnum Opus Acquisition Limited is a special purpose acquisition
company sponsored by L2 Capital, a private investment firm. Magnum
Opus is a partnership of enterprise builders and public and private
market investment specialists with extensive experience operating
and investing throughout the business life cycle from founding,
scaling operations through public listing. Magnum Opus aims to
partner with public ready enterprises at the forefront of
convergence of consumption and technology. Magnum Opus' mission is
to support companies to realize their vision as they embark on
their journey into the public markets and face new opportunities,
challenges and stakeholders.
Forward-Looking Statements
This press release contains 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. 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 may
include, but are not limited to, statements regarding the Company's
ability to comply with SEC rules and the continued listing
requirements of the NYSE. These statements are based on current
expectations on the date of this press release and involve a number
of risks and uncertainties that may cause actual results to differ
significantly. The Company does not assume any obligation to update
or revise any such forward-looking statements, whether as the
result of new developments or otherwise. Readers are cautioned not
to put undue reliance on forward-looking statements.
Investor Relations Contact
ICR, LLC
Robin Yang
Email: ICR-TMT@icrinc.com
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SOURCE Magnum Opus Acquisition Limited