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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Altimeter Growth Corporation | NASDAQ:AGC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 11.01 | 11.11 | 11.13 | 0 | 01:00:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One): |
☐ Form 10-K ☐ Form 20-F ☐ Form 11-K ☒ Form 10-Q ☐ Form 10-D ☐ Form N-CEN ☐ Form N-CSR |
|
For Period Ended: March 31, 2021 |
☐ Transition Report on Form 10-K | ☐ Transition Report on Form 10-Q | |
☐ Transition Report on Form 20-F | ||
☐ Transition Report on Form 11-K |
For the Transition Period Ended: |
Read Instruction (on back page) Before Preparing Form. Please Print or Type. Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.
|
If the notification relates to a portion of the filing checked above, identify the item(s) to which the notification relates: _____________________________________________________
PART I REGISTRANT INFORMATION
ALTIMETER GROWTH CORP. |
Full Name of Registrant |
Former Name if Applicable |
2550 Sand Hill Road, Suite 150 |
Address of Principal Executive Office (Street and Number) |
Menlo Park, CA 94025 |
City, State and Zip Code |
PART II RULE 12b-25 (b) AND (c)
If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate).
(a) The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense. |
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☐ |
(b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and |
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(c) The accountants statement or other exhibit required by Rule 12b-25(c) has been attached if applicable. |
PART III NARRATIVE
State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.
Altimeter Growth Corp. (the Company) has determined that it is unable, without unreasonable effort or expense, to file its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021 (the Q1 2021 Form 10-Q) by the prescribed due date for the reasons described below.
On April 12, 2021, the Acting Director of the Division of Corporation Finance and Acting Chief Accountant of the Securities and Exchange Commission together issued a statement regarding the accounting and reporting considerations for warrants issued by special purpose acquisition companies entitled Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (the SEC Statement). As a result of the SEC Statement, the Companys management reevaluated the accounting treatment of our (i) outstanding warrants issued in connection with our initial public offering on October 5, 2020, including the 12,000,000 private placement warrants issued to Altimeter Growth Holdings (our sponsor) and the 10,000,000 warrants issued as part of the units sold in our initial public offering, each with an exercise price of $11.50 (the IPO Warrants), and (ii) the 4,000,000 warrants to be issued pursuant to the terms of our forward purchase agreements entered into with Altimeter Partners Fund, L.P. and JS Capital LLC at an exercise price of $11.50 (the Forward Purchase Units and such warrants included in the Forward Purchase Units, together with the IPO Warrants, the Warrants), in accordance with Accounting Standards Codification (ASC) 815-40, Derivatives and Hedging: Contracts in an Entities Own Equity. ASC 815-40 states entities must consider whether to classify contracts that may be settled in its own stock, such as warrants, as equity of the entity or as an asset or liability. The Company previously accounted for the Warrants as components of equity.
After consideration of the guidance in the SEC Statement, the Company concluded that the Warrants should be accounted for as a liability and measured at fair value with changes in fair value each period reported in the Companys statement of operations. The Company is in the process of completing its final analysis of this change.
The Company is working diligently to complete the Q1 2021 Form 10-Q as soon as possible; however, given the scope of the process for determining the appropriate treatment of the Warrants in accordance with the SEC Statement and ASC 815-40, the Company is unable to complete and file the Q1 2021 Form 10-Q by the required due date of May 17, 2021 without unreasonable effort and expense.
PART IV OTHER INFORMATION
(1) |
Name and telephone number of person to contact in regard to this notification |
Hab Siam |
(650) |
549-9145 |
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(Name) | (Area code) | (Telephone Number) |
(2) |
Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If the answer is no, identify report(s). ☒ Yes ☐ No |
(3) |
Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? ☐ Yes ☒ No |
If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.
Altimeter Growth Corp.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 17, 2021 | By: | /s/ Hab Siam | ||||
Name: | Hab Siam | |||||
Title: | General Counsel |
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1 Month Altimeter Growth Chart |
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