C5 Acquisition Corporation Receives Noncompliance Notice Regarding Late Form 10-Q Filing From the NYSE
C5 Acquisition Corporation (NYSE:CXAC) (the "Company") announced that on August 23, 2023, as a result of its inability to timely file with the Securities and Exchange Commission ("SEC") its Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2023 (the "Form 10-Q"), it received a notice from the New York Stock Exchange (the "NYSE") stating that the Company is not in compliance with Section 802.01E of the NYSE Listed Company Manual. The NYSE notified the Company that, under NYSE rules, the Company will have six months from August 21, 2023 to file the Form 10-Q with the SEC. The Company can regain compliance with the NYSE listing standards at any time prior to that date by filing its Form 10-Q. If the Company fails to file the Form 10-Q within six months from the filing due date, the NYSE may, in its sole discretion, allow the Company's securities to trade for up to an additional six months, depending on the specific circumstances. The letter also notes that the NYSE may commence delisting proceedings at any time during the period that is available to complete the filing, if circumstances warrant.
As the Company reported in its Form 12b-25 filed with the SEC on August 14, 2023, the Form 10-Q could not be filed within the prescribed time period required for smaller reporting companies without unreasonable effort and expense, because the Company requires additional time to complete its financial statement preparation and review process. The Company continues to work diligently to complete and file the Form 10-Q as soon as practicable.
About C5 Acquisition Corporation
The Company is a blank check company incorporated as a Delaware corporation for the purpose of effecting a merger, consolidation, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or companies. While the Company may pursue an initial business combination with any company in any industry, the Company intends to focus on businesses at the leading edge of national security innovation in three key sectors: Space, Cybersecurity and Energy Transition.
Forward-Looking Statements
This press release includes, and oral statements made from time to time by representatives of the Company may include, "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions, as they relate to the Company or the Company's management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the SEC. All subsequent written or oral forward-looking statements attributable to the Company or persons acting on the Company's behalf are qualified in their entirety by this paragraph. 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 final prospectus relating to the Company's initial public offering filed with the SEC. Copies 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 applicable law.
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