Adit EdTech Acquisition Corp. Transfers Listing To NYSE American; ADEX Expects Its Common Stock, Units And Warrants To Begin Trading On The NYSE American On Or About February 16, 2023
Adit EdTech Acquisition Corp. (NYSE:ADEX, ADEX-WS, ADEX-U))))) ("ADEX" or the "Company"), a special purpose acquisition company, announced today that it expects to transfer the listing of its common stock, units and warrants from The New York Stock Exchange (the "NYSE") to the NYSE American LLC ("NYSE American"), where it has been approved for listing subject to confirmation of its satisfaction of the NYSE American's listing standards. As previously disclosed, on February 7, 2023, NYSE informed ADEX that trading in the Company's common stock, units and warrants had been halted, as the Company no longer satisfies the continued listing standard of the NYSE requiring the Company to maintain an average aggregate global market capitalization attributable to its publicly-held shares over a consecutive 30 trading day period of at least $40,000,000. ADEX's decision to transfer to the NYSE American was motivated by several factors, including the trading halt and the more favorable thresholds for continued listing on the NYSE American following recent redemptions of ADEX's IPO shares in connection with the vote to extend the deadline by which ADEX must complete its initial business combination. Following the transfer, ADEX intends to continue to file the same types of periodic reports and other information it currently files with the U.S. Securities and Exchange Commission (the "SEC"). ADEX expects its common stock, units and warrants to begin trading on the NYSE American on or about February 16, 2023.