NEW
YORK, April 25, 2022 /PRNewswire/ -- Itiquira
Acquisition Corp. (NASDAQ: ITQ) (NASDAQ: ITQRU)
(NASDAQ: ITQRW) (the "Company") today announced that it
received a letter (the "Nasdaq Letter") on April 19, 2022 from the Nasdaq Stock Market
("Nasdaq") notifying the Company that it had violated Nasdaq
Listing Rule 5250(c)(1) because the Company had not yet filed its
Annual Report on Form 10-K for the year ended December 31, 2021 (the "2021 Annual Report") with
the Securities and Exchange Commission (the "SEC"). Nasdaq Listing
Rule 5250(c)(1) requires listed companies to timely file all
required periodic financial reports with the SEC.
In the Nasdaq Letter, Nasdaq stated that the Company had until
June 20, 2022 to submit a plan to
regain compliance. If Nasdaq accepted the Company's plan, it could
then grant an exception of up to 180 calendar days from the 2021
Annual Report's due date, or until October
12, 2022, to regain compliance. If Nasdaq did not accept the
Company's plan, the Company would have had the opportunity to
appeal that decision to a Nasdaq Hearings Panel and to request a
further stay pending the appeal.
The Company is actively working with its auditors and advisors,
and intends to file its 2021 Annual Report as soon as possible to
regain compliance.
The Nasdaq Letter has no immediate impact on the listing or
trading of the Company's securities on Nasdaq.
About Itiquira Acquisition Corp.
Itiquira Acquisition Corp. is a blank check company incorporated
as a Cayman Islands exempted
company for the purpose of effecting a merger, amalgamation, share
exchange, asset acquisition, share purchase, reorganization or
similar business combination with one or more businesses or
entities. Although the Company may pursue its initial business
combination in any business, industry or geographic location, it
currently intends to focus its search for a target located in
Brazil in industries that it
believes have high-potential for growth and generating strong
returns for shareholders.
Forward Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
Company's plans with respect to the target industry for a potential
business combination. No assurance can be given that the Company
will ultimately complete a business combination transaction.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company's registration
statement and prospectus for the Company's offering filed with the
U.S. Securities and Exchange Commission (the "SEC"). Copies of
these documents are available on the SEC's website, at www.sec.gov.
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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SOURCE Itiquira Acquisition Corp.