Item 3.01 Notice of De-listing or Non-Compliance with a Continuing Listing Rule or Standard; Registration transfer.
As previously stated in Form 12b-25 filed on November 16, 2021 through Warrior Technologies Acquisition Company (the “Company”) with the Scholarship commission (the “SEC”), in light of recent guidance, the Company’s management has reassessed the Company’s application of ASC 480-10-S99-3A to its accounting classification of redeemable shares of common stock. category A, nominal value $ 0.0001 per share (the “Public Shares”), issued within the framework of the units sold within the framework of the initial public offering of the Company on March 2, 2021. Historically, part of public shares was classified as permanent equity in order to maintain net tangible assets greater than $ 5,000,000 on the basis that the Company will only complete its initial business combination if the Company has net tangible assets of at least $ 5,000,001. As a result of this reassessment, the management of the Company has determined that Public Shares include certain provisions which require the classification of Public Shares as temporary equity regardless of the minimum net tangible assets required to complete the initial business combination of the Company. .
In relation to the above, the 23 November 2021, the Company has received a notice (the “Notice”) from New York Stock Exchange (the “NYSE”) indicating that the Company is not in compliance with the continuous listing requirements of the NYSE under the criteria for filing the Quarterly Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2021 (the “Form 10-Q”) with the SECOND. The Rule requires listed companies to file, in a timely manner, all required periodic financial reports with the SECOND. The Notice has no immediate effect on the listing or trading of the Company’s securities.
Under the NYSE, the Company has six months from the due date of Form 10-Q, or until May 22, 2022, to regain compliance. The Company filed Form 10-Q on
November 24, 2021.
As required by NYSE rules, the November 24, 2021, the Company has issued a press release regarding the matters described in this section 3.01. A copy of the press release is included as Exhibit 99.1 of this report and incorporated herein by reference.
Item 9.01 Financial statements and supporting documents.
Exhibit No. Description of Exhibits
99.1 Press Release dated November 24, 2021
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