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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event
reported): September 20, 2023
Coliseum Acquisition Corp.
(Exact name of registrant as specified in its charter)
Cayman Islands |
|
001-40514 |
|
98-1583230 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
1180
North Town Center Drive, Suite
100
Las Vegas, NV 89144
(Address of principal executive offices, including
zip code)
Registrant’s telephone number,
including area code: (702) 781-4313
Not Applicable
(Former name or former address,
if changed since last report)
Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions:
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b)
of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each
exchange on which
registered |
|
|
|
|
|
Units, each consisting of one Class A ordinary share, par value $0.001 per share, and one-third of one redeemable warrant |
|
MITAU |
|
The Nasdaq Stock Market LLC |
Class A ordinary shares, par value $0.001 per share |
|
MITA |
|
The Nasdaq Stock Market LLC |
Redeemable warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share |
|
MITAW |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth
company x
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 3.01. Notice of Delisting or Failure
to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously disclosed
in the Current Report on Form 8-K filed on March 27, 2023 with the Securities and Exchange Commission, Coliseum Acquisition Corp., a Cayman
Islands exempted company (the “Company”), received a written notice on March 21, 2023 from the Nasdaq Listing Qualifications
Department of the Nasdaq Stock Market (“Nasdaq”) indicating that the Company was not in compliance with Listing Rule
5550(a)(3), which requires the Company to have at least 300 public holders for continued listing on The Nasdaq Capital Market (the “Minimum
Public Holders Rule”). The Company submitted a plan to regain compliance with the Minimum Public Holders Rule on June 26, 2023.
Nasdaq approved the plan and granted the Company an extension until September 17, 2023 to demonstrate
compliance with the Minimum Public Holders Rule (the “Compliance Period”).
On September 20, 2023,
the Company received written notice (the “Delisting Letter”) from Nasdaq stating that the Company has not
regained compliance with the Minimum Public Holders Rule within the Compliance Period. According to the Delisting Letter, unless the Company
requests an appeal of this determination, the Company’s securities will be delisted from The Nasdaq Capital Market, trading
of the Company’s ordinary shares will be suspended at the opening of business on September 29, 2023, and a Form 25-NSE will be filed
with the Securities and Exchange Commission to remove the Company’s securities from listing and registration on Nasdaq. The
Delisting Letter does not impact the Company’s obligation to file periodic reports with the Securities and Exchange Commission under
applicable federal securities laws.
The Company intends to appeal
Nasdaq’s delisting determination by requesting a hearing before a Hearings Panel (the “Panel”), pursuant
to the procedures set forth in the Nasdaq Listing Rule 5800 Series. Such request would automatically stay the suspension of
the Company’s securities pending the Panel’s decision.
Forward
Looking Statements
Certain information contained
in this report consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that
involve risks, uncertainties and assumptions that are difficult to predict. Words such as “believes,” “expects,”
“intends,” “plans,” “estimates,” “assumes,” “may,” “should,” “will,”
“seeks,” and similar expressions, or the use of future tense, identify forward-looking statements, but their absence does
not mean that a statement is not forward-looking. Such forward-looking statements are not guarantees of performance and actual actions
or events could differ materially from those contained in such statements. For example, there can be no assurance that the Company will
request a hearing from the Panel, regain compliance with the Minimum Public Holders Rule during any compliance period or in the future,
or otherwise meet Nasdaq compliance standards, or that Nasdaq will grant the Company any relief from delisting as necessary or that the
Company can ultimately meet applicable Nasdaq requirements for any such relief. The forward-looking statements contained in this report
speak only as of the date of this report and the Company undertakes no obligation to publicly update any forward-looking statements to
reflect changes in information, events or circumstances after the date of this report, unless required by law.
Item 8.01. Other Events
On September 26, 2023, the Company issued a press
release announcing that, on September 25, 2023, its board of directors (the “Board”) elected to extend the date by
which the Company has to consummate a business combination (the “Deadline Date”) from September 25, 2023 for an additional
month to October 25, 2023. The Company’s Amended and Restated Memorandum and Articles of Association provides the Company the right
to extend the Deadline Date twelve times for an additional one month each time (each, an “Extension”), from June 25,
2023, the initial Deadline Date, to up to June 25, 2024. In connection with the fourth Extension, the Board delivered Berto a written
request to draw down $100,000 under its previously-disclosed promissory note for the fourth month of the Extension. On September 26, 2023,
Berto deposited $100,000 into the Company’s trust account in connection with the fourth Extension.
A copy of the press release is attached as Exhibit
99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item
9.01 Financial Statements and Exhibits.
(d) Exhibits
The following exhibits
are being filed herewith:
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
Coliseum Acquisition Corp. |
|
|
|
|
By: |
/s/ Oanh Truong |
|
|
Name: |
Oanh Truong |
|
|
Title: |
Chief Financial Officer |
|
|
|
Dated: September 26, 2023 |
|
|
Exhibit 99.1
Coliseum Acquisition Corp. Announces
Fourth Extension of Deadline to Complete Initial
Business Combination
New York, NY, September 26,
2023 -- Coliseum Acquisition Corp. (NASDAQ: MITAU, MITA, MITAW) (“Coliseum” or the “Company”), announced today
that on September 25, 2023 its board of directors (the “Board”) decided to extend the date by which the Company must consummate
an initial business combination (the “Deadline Date”) from September 25, 2023 for an additional month, to October 25, 2023.
This is the fourth of twelve potential one-month extensions of the Deadline Date available to the Company pursuant to its Amended and
Restated Memorandum and Articles of Association. Coliseum further announced that Berto LLC, an affiliate of Harry L. You, deposited $100,000
into Coliseum’s trust account in connection with this extension.
About Coliseum Acquisition Corp.
Coliseum is a blank check company incorporated
on February 5, 2021, as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share
purchase, reorganization or similar business combination with one or more businesses. For more information, please visit https://www.coliseumacq.com/.
Contacts
Oanh Truong
Chief Financial Officer
(714) 622-8733
v3.23.3
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