We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
Atlantic Coastal Acquisition Corporation | NASDAQ:ACAHU | NASDAQ | Trust |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 10.66 | 0.0001 | 2,147.48 | 0 | 01:00:00 |
united states
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date
of earliest event reported):
(Exact name of registrant as specified in its charter)
(State
or Other Jurisdiction of |
(Commission File Number) | (I.R.S.
Employer Identification No.) |
(Address of principal executive offices) | (Zip Code) |
(
(Registrant’s telephone number, including area code)
N/A
(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 obligations of the registrant under any of the following provisions (see General Instruction A.2. below):
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 | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in 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
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. |
Atlantic Coastal Acquisition Corp. (the “Company”) was unable to file its quarterly report on Form 10-Q for the quarter ended June 30, 2023 (the “Report”) with the Securities and Exchange Commission (the “SEC”) by August 14, 2023, the statutory deadline to file the Report.
On August 17, 2023, the Company received notice (the “Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”) that the Company was not in compliance with Nasdaq’s continued listing standards (the “Listing Rules”) as set forth in Listing Rule 5250(c)(1) given the Company’s failure to timely file the Report. Consistent with the Listing Rules, the Company has 60 calendar days from the date of the Notice to provide Nasdaq with a specific plan to achieve and sustain compliance with the Listing Rules. The Company expects to file the Report in the coming weeks.
On August 25, 2023, the Company issued a press release (the “August 25th Press Release”) disclosing receipt of the Notice. A copy of the press release is included herewith as Exhibit 99.1 and incorporated herein by reference.
Item 8.01 | Other Events |
On August 18, 2023, the Company filed a Form 8-K and issued a press release announcing that it would redeem all of its outstanding shares of Class A common stock, effective as of August 18, 2023, because the Company would not consummate an initial business combination within the time period required by its Second Amended and Restated Certificate of Incorporation.
As disclosed in the August 25th Press Release, the Company no longer intends to redeem all of its outstanding shares of Class A common stock and is seeking stockholder approval to extend the termination date to consummate a business combination beyond September 8, 2023. The Company filed a preliminary proxy statement on August 22, 2023 and an amendment to such preliminary proxy statement on September 5, 2023 (collectively, the “Preliminary Proxy Statement”) in connection with such extension.
On September 6, 2023, the Company filed a definitive proxy statement (the “Definitive Proxy Statement”) in connection with such extension. On September 6, 2023, the Company issued a press release (the “September 6th Press Release”) highlighting the disclosure in the Definitive Proxy Statement that differs from disclosure in the Preliminary Proxy Statement. A copy of the September 6th Press Release is included herewith as Exhibit 99.2 and incorporated herein by reference.
Finally, the Company hereby confirms (i) that the trustee of the Company’s Trust Account (the “Trust Account”), at the instruction of the Company, liquidated the securities in the Trust Account on March 22, 2023, and (ii) as a result of such liquidation, all funds in the Trust Account are currently held in cash in a bank demand deposit account. The Company plans to disclose this in the Report.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
Exhibit No. | Description | |
99.1 | Press Release dated August 25, 2023 | |
99.2 | Press Release dated September 6, 2023 | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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.
Dated: September 6, 2023
ATLANTIC COASTAL ACQUISITION CORP. | ||
By: | /s/ Shahraab Ahmad | |
Shahraab Ahmad | ||
Chief Executive Officer |
Exhibit 99.1
Atlantic Coastal Acquisition Corp. Announces Plans to Extend Deadline to Complete Initial Business Combination.
The Company Also Received a Notice of Non-compliance from Nasdaq for Failure to Timely File its Second Quarter 2023 Form 10-Q
NEW YORK, N.Y., August 25, 2023 – Atlantic Coastal Acquisition Corp. (NASDAQ: ACAH) (the “Company”), a special purpose acquisition corporation, today announced that its Board of Directors approved to extend the date by which the Company would be required to consummate a business combination (“Extension”). This announcement follows a prior announcement on August 18, 2023 whereby the Company announced it would redeem its public shares. This Extension is subject to approval of the Company’s shareholders at the Special Meeting that is currently scheduled for September 8, 2023.
For further information related to Extension and/or Special Meeting, please see the Company’s Schedule 14A Preliminary Proxy Statement that was filed on August 22, 2023, as well as any updates to this filing.
The Company also received a notice of non-compliance from Nasdaq for failure to timely file its second quarter 2023 Form 10-Q. The Company is working to complete its Form 10-Q filing and expects to have this completed in the coming weeks.
About Atlantic Coastal Acquisition Corp.
Atlantic Coastal Acquisition Corp. (NASDAQ: ACAH) is a special purpose acquisition company focused on the future of mobility. On March 8, 2021, Atlantic Coastal announced the closing of its IPO and listing on Nasdaq. The Atlantic Coastal team is led by Chairman and CEO Shahraab Ahmad, and President and Director Burt Jordan. For more information, please visit www.atlanticcoastalacquisition.com.
Forward-Looking Statements
This press release may contain statements that constitute “forward-looking statements.” 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 10-K filed with the SEC. Copies are available on the SEC’s website, 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.
Exhibit 99.2
IMPORTANT: Atlantic Coastal Acquisition Corp. Files Definitive Proxy Statement in Connection with Plan to Extend the Amount of Time the Company has to Consummate a Business Combination.
NEW YORK, N.Y., September 6, 2023 – Atlantic Coastal Acquisition Corp. (NASDAQ: ACAH) (the “Company”), a special purpose acquisition corporation, today announced that it filed a Schedule 14A Definitive Proxy Statement on September 6, 2023 (the “Definitive Proxy Statement”) in connection with a special meeting (the “Special Meeting”) to extend the amount of time the Company has to consummate a business combination (the “Extension”). This filing follows the Company’s Schedule 14A Preliminary Proxy Statement that was filed on August 22, 2023 and the amendment thereto that was filed on September 5, 2023 (collectively, the “Preliminary Proxy Statement”) in connection with the Special Meeting.
The Company intends to mail the Definitive Proxy Statement as promptly as possible. Notwithstanding the content of any prior mailings distributed to stockholders in connection with the Special Meeting, the Definitive Proxy Statement contains disclosure concerning (a) the potential effects of the Extension on the Company’s continued eligibility to be listed on Nasdaq, (b) corrections of figures included in the Preliminary Proxy Statement concerning the per share redemption price in connection with the Special Meeting and the amount in the Company’s trust account (the “Trust Account”), (c) additional information regarding the liquidation of the securities previously held in the Trust Account, and (d) a modification of the deadline by which stockholders must elect to redeem their Class A common stock prior to the Special Meeting.
Stockholders should read such disclosure prior to casting their votes in connection with the Special Meeting.
Notwithstanding the above, voting instructions (including control numbers) that stockholders received in any prior mailings in connection with the Special Meeting are still applicable as of this date.
About Atlantic Coastal Acquisition Corp.
Atlantic Coastal Acquisition Corp. (NASDAQ: ACAH) is a special purpose acquisition company focused on the future of mobility. On March 8, 2021, Atlantic Coastal announced the closing of its IPO and listing on Nasdaq. The Atlantic Coastal team is led by Chairman and CEO Shahraab Ahmad, and President and Director Burt Jordan. For more information, please visit www.atlanticcoastalacquisition.com.
Forward-Looking Statements
This press release may contain statements that constitute “forward-looking statements.” 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 10-K filed with the SEC. Copies are available on the SEC’s website, 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.
1 Year Atlantic Coastal Acquisi... Chart |
1 Month Atlantic Coastal Acquisi... Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions